Peloton to slash price of exercise bikes as competition grows

Peloton will be slashing the price of its exercise bikes again, coming as the company faces fiercer competition from rivals producing cheaper products and people return to gyms.

News 12 Staff

Aug 27, 2021, 12:59 PM

Updated 994 days ago

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Peloton announced it will be slashing the price of its exercise bikes again, coming as the company faces fiercer competition from rivals producing cheaper products and people return to gyms. The core bike will be reduced by roughly 20% from $1895 to $1,495. The bike+ will still sell for just under $2,500. Peloton Chief Executive Office John Foley says the price cuts and introduction of cheaper machines are aimed at attracting new members and making the company's products more accessible and attainable.
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