Peloton is giving its bike another price cut
CNN
Peloton is cutting the price of its original at-home exercise bike for the second time in a year, a sign that the trendy fitness company is facing fiercer competition from rivals producing significantly cheaper products and people returning to gyms.
Beginning Thursday, its core bike will cost $1,495 — a roughly 20% reduction — with the monthly financing rate dropping $10 to $39 a month. Peloton said in a press release that the price cut is part of its mission to making the company's products "more accessible and attainable." Peloton also announced new financing terms for its recently released Tread and pricier Bike+ with the monthly prices dropping by several dollars and the company offering 0% APR. Peloton (PTON) previously cut the price of the Bike by 15% to $1,895 in September 2020.
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