One item that was mentioned in passing during yesterday’s earning call was something Peloton “was not announcing today.” One of the investors on the call asked what Peloton planned to do with all the Bikes they would be collecting as part of the trade-in program. This program allows people to get a $700 rebate in exchange for their old Bike, when they purchase the new Bike+. Peloton will pick up the old bike for you. With this program, it is expected Peloton will soon have a large number of old, used Bikes on their hands.
Both William Lynch, president of Peloton, and John Foley, co-founder and CEO of Peloton were on the call, and their reply was that they definitely do have plans to offer a “CPO program” (certified pre-owned), however, they were not announcing it today.
With that, we now know that there will be a certified pre-owned option coming from Peloton down the road. However, we don’t know long it will be until this program is formally launched and announced.
At this point, it’s unclear if it will only be the original Bike that is available to buy used from Peloton under the CPO program, or if other products will be as well.
This news was first surfaced by Yahoo.
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