Peloton has been struggling for years, and now cheap used bikes are flooding the LA market.
Peloton has never really embraced the fact that it is a subscription-based streaming fitness service and has instead tried to be an equipment seller. The brief boost in sales during the pandemic seems to have further sealed their fate. Rather than focus on the successful streaming fitness studio business it built to support its hardware, the company keeps "pivoting" into its failed business line. Now, PE firms may be looking to own it.
The expensive bikes running Peloton frontend software allow users to open a hidden browser and run other web-streamed content, but you can get better bikes and screens for less or just use your iPad like I do. Earlier this year, I heard that Peloton Bike + users couldn't use their Apple Watches as heart rate tracking devices because of an Android/Apple thing. I had no issues. With the company so in the news lately, it has probably reminded many folks that their Pelotons are expensive coat racks with a recurring subscription.
The lowest I've seen is $300, but I have seen Pelotons offered at that price several times. This is a "Get this fucking thing out of my house" price. Peloton is still trying to sell these bikes for $1450. The Bike+ is still $2495 and used I've see them in the $900 frequently. I think prices have a lot more room to drop, and I don't know how Peloton is going to sell new ones; they've always had delivery issues anyway.
Cheap deals for Angelenos! A source in Eugene, Oregon, reports that Craigslist has bikes in the $500-700 range. I have not bothered to check other markets.
Previously: My DIY Peloton bike: An ongoing journey
