Peloton is reportedly planning a cheaper new treadmill to keep home workouts on track

From The Verge: There are no two ways about it: the pandemic has been good for Peloton. Demand for the company’s high-end exercise equipment and at-home workouts has boomed as COVID-19 has shut gyms and kept customers indoors. Now, in a move likely intended to capitalize on this growth, Bloomberg reports that Peloton is planning to launch a new, cheaper treadmill.

Bloomberg says Peloton’s new treadmill will cost less than $3,000 — pricey, but still less expensive than its current $4,295 model, known as the Tread. The cheaper treadmill will be smaller and have a simpler belt to replace the Tread’s current slatted design. Bloomberg says Peloton will continue to sell the current Tread but rebrand it as the Tread+.

Alongside the new treadmill, Peloton is also reportedly planning to launch a new higher-end workout bike, to be known as the Bike+. This will cost more than the current Bike (yours from $2,245) which will in turn be bumped down to a new sub-$1,900 price tag. That means both bike and treadmill will have a new, two-tier pricing scheme.

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