NEW YORK (BRAIN) — Peloton started a refurbished bike program Monday in the continental U.S. and Canada. Peloton Certified Refurbished Peloton Bike/Bike+ models are available online or in showrooms with delivery and setup included.
A refurbished Peloton Bike costs $1,145, $300 less than a new model. A refurbished Peloton Bike+ is $1,195, $500 less than a new model. Membership remains a separate cost.
According to Peloton, each bike is inspected and tested and backed by the same one-year limited warranty that's standard with new models.
"We are excited to offer refurbished Peloton bikes at these new price points, opening the engaging Peloton experience to even more members," said Amanda Shulman, vice president of Emerging Business & Strategic Partnerships. "All pre-owned bikes have been refurbished and checked to meet our rigorous quality standards, and our new program allows us to find these bikes a second home."
Earlier this year, Peloton expanded its national rental program, offering the flexibility to rent the Peloton Bike/Bike+ monthly with no commitment that includes the all-access membership.
In August, Peloton Interactive reported a fourth-quarter net operating loss of $1.2 billion with the indoor fitness company continuing its downturn following rapid growth during the pandemic. It was the sixth consecutive quarter of reported losses. The company also had two rounds of layoffs this year, with the elimination of 2,800 jobs globally in February and another 500 in October, when CEO Barry McCarthy said was "the final phase of the company's transformation journey."
McCarthy took over in February when co-founder John Foley stepped aside to become executive chair.
Also in August, Peloton expanded the distribution of its bike, Guide, and selected accessories and apparel to Amazon's U.S. stores.
