Following a monthslong delay, Peloton said Tuesday that a less expensive version of its treadmill is finally set to debut in the United States next week, with a slew of new safety features.
Priced at $2,495, the redesigned Tread machine will go on sale in the U.S., Canada and the U.K. on Monday.
The debut comes after Peloton in early May voluntarily recalled both its Tread and more expensive Tread+ machines over safety concerns, after a child was pulled under the Tread+ and killed. Users also reported the touch screen falling off the Tread.
Peloton has begun repairing the limited number of Tread machines that were sold in the U.S. ahead of an official launch that was supposed to take place May 27, which would have been shortly after the recall.
The Tread is now set to launch in Germany in the fall.
"We've worked hard to make sure the new Tread truly earns its spot in members' homes," Chief Executive John Foley said in a statement. "We'll always continue to innovate our hardware, software and safety features to live up to our commitment to member safety and to improving the full member experience."
The new Tread includes a four-digit digital passcode lock, which users will need to enter in order to unlock the belt before a workout. It also features a removable safety key in case a user needs to stop quickly during a workout. And the speed and incline knobs are placed on the side rails of the treadmill, the company said, aligning with a runner's natural arm swing for easy access.
The touch screen on the Tread will also tilt up and down about 50 degrees so users can transition from a run to a floor workout. Users still must pay a monthly fee of $39 to access Peloton's workout programming and live classes.
Peloton hasn't yet offered a timeline for when its Tread+ will again be available for sale.
Following a massive run-up in 2020, Peloton shares have fallen 29% year to date, bringing the company's market cap to $31.8 billion.
Peloton is set to report its fiscal fourth-quarter earnings results after the market closes Thursday.
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August 24, 2021 at 07:00PM
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Peloton to begin selling less expensive treadmill in U.S. next week, following recall and delayed launch - CNBC
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