This morning, Peloton released their quarterly earnings, and as part of that, a letter to investors. Within the letter, Peloton CEO Barry McCarthy provided some updates on the Peloton Tread+ – an update on price and release date.
Update – Peloton said in November that the exact Tread+ cost would be $5,995.
First, McCarthy provided the first concrete update on pricing for the re-released Tread+. In his letter, McCarthy said that he expected the updated Peloton Tread+ to cost around $6,000.
His exact quote was: “Retail pricing for new sales of Tread+ CFUs with the new rear guard is expected to be ~$6 thousand”
Before the Tread+ was pulled from market due to the recall, it had cost $4,295. This will be an increase of around $1,500 – $2,000 in price for the Tread+, depending on where exactly the final retail pricing ends up.
For those considering between the Tread+ and the Tread, you can see all the differences between the two here. At time of publishing, the newer Tread costs $2,995 – which means the Tread+ will cost nearly double that, or $3,000 more than the Tread when it comes back on market.
Peloton has not yet stated if they will offer any sort of trade-in program for members who own the Tread who might be interested in purchasing the Tread+.
Peloton also sent an email to some members notifying them of the updated pricing. That letter noted the price update was to reflect the “premium nature” of the Tread+.
We would like to share some exciting news on Tread+. With the design approval of the rear guard by the Consumer Product Safety Commission, Peloton plans to resume sales of the Tread+ this holiday season with the first deliveries taking place in early 2024. We expect the new price of Tread+ to be ~$6,000. We’ve updated the Tread+ price point to reflect its premium nature.
McCarthy also gave an estimate on when the Tread+ could be purchased by new members, saying the company “expects to resume pre-sales of the popular Tread+ in the US this holiday season, with first shipments about 6 weeks later.”
Peloton has also updated the landing page for the Tread+ with this language (affiliate link). That page now says:
We’re bringing back the ultimate workout experience. The Tread+ will be on sale this holiday season for early 2024 delivery.
This update aligns with the letter, where McCarthy said the first 10,000 Tread+ sold will be fulfilled by existing inventory, and ship around 6 weeks after pre-orders start After the first 10,000 are sold, Peloton will need to start manufacturing new devices again, but there wasn’t an estimated delivery date for that second batch of Tread+ sold.
In the email letter to members, it also let them that they wouldn’t start installing the Tread+ rear guard for existing owners until early 2024 as well – a slight delay from their earlier estimate of the end of this year:
The full letter to members said:
We would like to share some exciting news on Tread+. With the design approval of the rear guard by the Consumer Product Safety Commission, Peloton plans to resume sales of the Tread+ this holiday season with the first deliveries taking place in early 2024. We expect the new price of Tread+ to be ~$6,000. We’ve updated the Tread+ price point to reflect its premium nature.
While we are excited to reintroduce this beloved product, our priority is still to enhance the safety of Members who are current Tread+ owners. We will not begin delivery of new Tread+ units until our field retrofit campaign is well underway. We now expect our first installations of the rear guard to take place in January 2024.
Our Supply Chain and Field Service teams are working diligently to both manufacture the rear guard and scale our service networks with specialists that can help us install them quickly. If you have not yet registered for your free rear guard and professional in-home installation, please visit https://www.onepeloton.com/tread-plus/rear-safety-guard. If you have registered for your free rear guard, we are grateful for your continued patience.
Once we resume sales, we will only have a limited number of Tread+ units based on existing inventory. Once this quantity has been sold, it will be a period of time before we can manufacture Tread+ to fulfill additional demand.
As a reminder, the Tread+ was first recalled back in May 2021 – and has not been available for purchase since then.
The CPSC recently approved a rear guard to fix the Tread+, and shortly after that McCarthy hinted new sales might not resume until early 2024.
As part of the recall, members can choose to return their Tread+ to Peloton to get a full refund on their purchase price. The deadline to return the Tread+ was recently extended until November 2023.
You can read Peloton CEO Barry McCarthy’s full statement on the re-release of the Tread+ from the Q4 2023 shareholder letter below:
Finally, I want to update you on the progress we’re making to offer an innovative safety improvement to existing Tread+ Members, and bring back one of our most beloved products. This past quarter the Consumer Product Safety Commission approved our design for a new rear guard for the popular product. The approval enables us to begin retrofitting existing Tread+ products later this year, enhancing the safety of our Members. Peloton will install the rear guard for Members who request one (17 thousand requests to date). The Company expects to resume pre-sales of the popular Tread+ in the US this holiday season, with first shipments about 6 weeks later. Retail pricing for new sales of Tread+ CFUs with the new rear guard is expected to be ~$6 thousand. Initial shipments will come from existing inventory of about 10 thousand units. Once that inventory is sold, we will have to stand up a new manufacturing line in order to bring the Tread+ back to the market for residential and commercial customers. We are too early in this planning process to estimate first delivery dates.
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Who in the world would purchase a $6,000 treadmill? It should do the running for us at that price point. It seems exclusionary.
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Apart from reflecting a “premium” product and safety guard, seems like the Tread + models are the same, so what are new Tread+ owners getting by paying an additional 2k?!
Here pay extortionary prices for our junk so we don’t go out of business – Barry McCarthy
$2,000 to fix your problems? At best with the fact that you’ve injured and even killed a baby, the over priced tread plus should be LESS not more