Peloton has announced some hardware price increases, effective immediately, as of September 12th, 2024.
The Peloton Bike and Bike+ are going up in price in most international markets – but will not increase in the US or Canada at this time.
The Peloton Row is increasing in price in the US & Canada (which are currently the only markets where it is available for sale).
At this time, the Peloton Tread or Tread+ prices are not changing. The Peloton Guide, which was recently lowered in price to $95, is also not getting a price change at this time.
Peloton said the following about the price increases: “We are committed to a thoughtful pricing strategy that best supports the needs of our business, and reflects the value of our premium hardware.”
This follows our report earlier this month that Peloton was looking at price increases – both for hardware and subscription pricing.
Previously, the rower cost $2,995 in the US. The price is being raised by $300, and now the Peloton Row will cost $3,295 in the US.
In Canada, the Peloton Row is going up by $350 CAD. The Peloton Row previously cost $3,845 in Canada, and will now cost $4,195 CAD.
The Peloton Bike & Bike+ are also seeing price increases across many of their international markets – but will not (currently) change in price in the US & Canada.
In the UK, the Peloton Bike will increase from £1,345 to £1,599. The Peloton Bike+ will increase from £1,995 to £2,199.
Peloton is also increasing prices for their refurbished and rental programs in the UK. Launched last year, refurbished original Peloton Bikes will increase from £1095 to £1,299, while the refurbished Peloton Bike+ will increase from £1,695 to £1,899.
The rental program, which previously had a £200 join fee then a £99 monthly ongoing cost, will keep the same £200 join fee, but the monthly cost will increase to £125/month for the Peloton Bike+ (the original Peloton Bike is not available for rental in the UK).
In Australia, the Peloton Bike will increased from $2,145 to $2,699. The Peloton Bike+ will increase from $3,345 to $3,699.
In Germany and Austria, the new prices will be €1,899 for the Peloton Bike, and €2,699 for the Peloton Bike+
In their press release about the news, Peloton discussed several new features they have recently added, such as Amazon Kindle on Entertainment, Just Guidance, Benchmark Classes, Pace Targets for Tread, new scenic content with NYRR, new outdoor content like the half marathon training program, as well as teasing their Strength+ and Zwift-style game betas.
The implication is that with all of these new features, the hardware devices are more valuable – and should demand higher prices for them.
Higher prices could lead towards potential members looking to buy used devices from people no longer using them. Peloton recently implemented a used device activation fee in the US & Canada – but has not yet added it to other international markets.
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When I first bought my Peloton Bike+ and Peloton Treadmill I thought that Peloton was the best company I had ever dealt with. The customer service was second to literally no one and the product was simply superb. I don’t think that can be applied any longer. I have many friends who would love to buy into the Peloton bran but it although they can definitely afford it, it just no longer represents value in what is a very crowded market. From a person on the outside looking in it feels as though Peloton are intent on hurting their brand in anyway possible. It’s a shame, I was genuinely your biggest fan