• Peloton is reportedly planning to launch a cheaper version of its treadmill and a new premium stationary bike, sources close to the matter told Bloomberg.
  • The treadmill is slated to retail for $3,000, while the high-end bike is expected to cost more than Peloton’s existing $2,245 model.
  • In response to Business Insider’s request to comment, Peloton said “we can’t comment on rumors and have nothing to announce.”
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Peloton is reportedly gearing up to drop cheaper versions of its existing stationary bike and treadmill, while also adding a new premium bike model to the mix.

The new treadmill — which will be smaller and developed using a cheaper design structure — is slated to cost $3,000, down from $4,295, sources close to the matter told Bloomberg. The cheaper treadmill is expected to be called Tread, while the current model will be renamed to Tread+.

Bloomberg also reported that Peloton plans to launch a high-end Bike+ that will retail for more than the $2,245 current model that is separately slated to drop to $1,900 in the near future. Peloton CEO John Foley first hinted at a forthcoming cheaper bike option in May as part of an effort to democratize its high-tech fitness products and reach new consumers.

“We want to make our products even more affordable than they are today,” Foley said in an interview with Time. “If we can get those monthly payments down, we can really open it up. And we want everyone in every socioeconomic class to be able to afford Peloton. That’s a big focus for us in the coming years,” he said.

Bloomberg's sources divulged that both Bike+ and the less expensive Tread will feature more adjustable tablet screens than previous models. The flexibility of the screens will allow for users to also do mat and strength training workouts near the machine, as the company prepares to add additional streaming workout classes, the sources said.

In response to Business Insider's request to comment, Peloton said "we can't comment on rumors and have nothing to announce." However, Bloomberg anticipates the company may announce the products next week, in advance of its quarterly earnings call on September 10.

Peloton has experienced a significant uptick in demand during the pandemic as Americans seek out at-home fitness options like stationary bikes. The company's sales in the first quarter of 2020 increased by 66% and subscribers to the Peloton app jumped by 94%.

Though Peloton announced in June that it was increasing production to meet overwhelming demand that prompted significant delays and last-minute cancellations, its bikes still remain on weeks-long backorder.