If you thought Mr Big’s heart attack was the worst thing to happen to Peloton in 2022, think again. Shares of the home fitness giant today fell more than 20% after reports that Peloton was temporarily halting all production of its bikes and treadmills due to a lack of demand.
Even worse: Peloton is about to increase the shipping price of the Peloton Tread, Peloton Bike and Peloton Bike+, making them even more expensive.
Is it a good time to buy a Peloton?
In a word, yes. Peloton is raising prices on its tread and bike starting Jan. 31, citing rising inflation and rising supply chain costs. The company will now ask buyers to pay an additional $250 for bike delivery and installation, and an additional $350 for tread delivery and installation, according to a new banner on the company’s website. .
This will raise the price of the bike from $1,495 to $1,745 and the price of the tread from $2,495 to $2,845. The price of the Bike+ will remain the same. Until now, delivery and set-up costs were included in the price of the product.
The UK and German websites also have similar messages with price increases.
A Peloton spokeswoman said CNBC in an emailed statement, “Like many other companies, Peloton is impacted by global economic and supply chain challenges that affect the majority, if not all, businesses around the world.”
“Even with these increases, we believe we still offer the best value in connected fitness and provide consumers with various financing options that make Peloton accessible to a broad audience,” the spokesperson said.
What does it mean if you are already a Peloton user?
If you’re already a Peloton subscriber, at the time of writing, nothing seems set to change. The $39.99 subscription fee will still apply to new and existing Peloton users.
Peloton is it worth it?
A tricky answer. Right now things aren’t looking great for the brand, and as a fitness editor, I’ve always believed that exercise equipment is only worth it if you actually use it. (I can’t tell you how many people I know use their treadmill as a drying rack). That said, in my Peloton tread review, I was blown away by the community element that only Peloton seems to bring to the market, and the variety and quality of courses are excellent. Here’s what another of our editors learned after using the Peloton for a month.
Is this the end of the Peloton? I hope not, but if I was considering adding a Peloton bike or tread to my home gym I would definitely invest in the next 11 days for sure.
If you’re shopping elsewhere, though, check out the best tested treadmills and the best Peloton alternatives here at Tom’s Guide.