Peloton’s pandemic fortunes began waning in 2021, and it appears that trend is continuing into the new year. According to a new CNBC report, Peloton

Peloton’s woes continue as it temporarily halts bike, treadmill production

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2022-01-20 20:30:10

Peloton’s pandemic fortunes began waning in 2021, and it appears that trend is continuing into the new year. According to a new CNBC report, Peloton has decided to temporarily halt production of its connected exercise bikes and treadmills amid weak consumer demand.

Citing a confidential internal company presentation, CNBC reports that Peloton will stop producing its original Bike from February to March. The company halted production on its more premium Bike Plus in December and apparently has no plans to restart until at least June. The newer Peloton Tread, which launched last year, will also cease production for six weeks starting next month. Unsurprisingly, Peloton also reportedly has no plans to produce any Tread Plus machines in fiscal 2022. The company stopped making new Tread Plus machines after the Consumer Product Safety Commission recalled the device following reports of several injuries, and in one instance, the death of a small child.

The woes also extend to the forthcoming Peloton Guide. Announced in November, the Guide was meant to be a $495 camera-based strength training system that connected with a user’s TV and came bundled with a heart-rate armband and a remote. However, CNBC cites internal documents showing the product hasn’t garnered a lot of interest thus far from consumers. While the Guide was expected to launch in early 2022, it appears that it may not launch until as late as April.