Peloton to sell less pricey treadmill after delays and recalls
Peloton Interactive's redesigned and lower-cost treadmill will relaunch in the United States next week, the company said Tuesday.
Priced at $2,495, the Tread machine is slated to go on sale in the U.S., Canada and the U.K. on Monday, the company stated in a news release that uses the word "safety" nine times. The Tread's reintroduction comes after a May recall of it as well as Peloton's more costly Tread+ machines. Customers will also have to pay $39 monthly for Peloton's workout programming and live classes.
"We've worked hard to make sure the new Tread truly earns its spot in Members' homes," John Foley, Peloton's CEO and co-founder, stated in the release. "We'll always continue to innovate our hardware, software and safety features to live up to our commitment to Member safety and to improving the full Member experience."
The new Tread includes a four-digit code to unlock the product's belt before use. It also has a physical safety key that can be pulled for a quick stop if needed, Peloton said. Further, the speed and incline knobs are on the side rails of the treadmill to make them easily accessible as they align with a runner's natural arm swing.
Peloton is bringing the product back to market after the company in May recalled both its Tread and more costly Tread+ machines, after first pushing back. The recalls came after more than 70 incidents, including the death of one child and 29 other instances where children sustained broken bones, lacerations and second- and third-degree abrasions.
The recalls came a month after the U.S. Consumer Product Safety Commission warned households with children and pets to stop using both products, and two months after Peloton cautioned customers to keep kids and animals away from the exercise equipment. The CPSC cited multiple reports of children becoming "entrapped, pinned and pulled under" the product's rear roller, and said Peloton had received 72 reports of adult users, children, pets and various objects being pulled under the back of its treadmills.
Peloton later apologized for resisting the CPSC's request that it recall the machines, which weigh up to 450 pounds, and halted sales of the Tread+ to work on hardware modifications.
The Tread, meantime, was recalled because its touchscreen could detach and fall, posing a risk of injury to users. Those who purchased the earlier version of the Tread have been offered a free repair or refund.
Tread+ owners have until November 2022 to request a full refund. Peloton has not yet given a timeline for when its Tread+ will be back on the market.
Peloton is best known for its stationary bikes, but introduced the treadmill about three years ago and now calls it the Tread+. Roughly 125,000 of the Tread+ machines were sold online and at Peloton showrooms from September 2018 through early 2021 for about $4,295 each.