Peloton Wants You to Sell That Dusty Bike
Peloton just expanded its resale marketplace for bikes, treadmills, and rowing machines nationwide. Peloton first launched the platform in June in only a few markets—Boston, New York, and the D.C. metro area. Since then, users have created over 400 listings and completed roughly three dozen sales. The expansion is part of the struggling company's broader turnaround strategy.
'This initiative provides a valuable service to our community, offering an accessible entry point for new members, a convenient way for existing members to upgrade or sell their equipment, and an opportunity for our equipment to be given a second life,' Chief Product Officer Nick Caldwell said in a press release.
Starting today, Peloton owners across the country will be able to list their used equipment and accessories on the platform. And buyers nationwide will be able to make purchases beginning in August. Peloton says it will suggest prices based on market trends and the condition of the user's gear, but sellers still get to set the final price. Those who offload their old equipment on the marketplace will earn some cash from the sale and will receive a discount on their next Peloton purchase.
Bikes on the marketplace are listed for as low as $289, hundreds of dollars cheaper than their original $1,445 retail price.
Peloton launched in 2012 and quickly gained a reputation as a premium fitness brand, selling pricey equipment with built-in screens that stream live and on-demand workout classes that are available through an additional subscription. The company hit its stride during the covid-19 pandemic, when gyms were closed and people were scrambling for ways to stay active at home.
But that momentum didn't last. As life slowly returned to normal after the pandemic, so did people's workout routine outside the home. The company's stock has dropped 95% from its early 2021 peak of nearly $170 a share to around $6 today.
And sales of Peloton's fitness equipment are still dropping. In May, the company reported a 27% year-over-year decline in equipment sales during its fiscal third quarter.
Earlier this year, Peloton brought in Peter Stern—formerly head of Ford's integrated services division—to take over as CEO. Before his time at Ford, Stern spent years at Apple, where he led the company's services division, overseeing products like Apple TV+ and Apple Fitness+.
At the Bloomberg Tech conference in June, Stern said the new marketplace is a key part of Peloton's turnaround strategy. He said the secondhand market was one of the most effective ways for the company to bring in new members.
'There are lots of Peloton bikes in particular that are out there in the world that are being underutilized—and that does no one any good,' Stern said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 hours ago
- Yahoo
Toyota Might Bring a New Truck to the U.S. That Would Defy All the Odds
Currently, just two trucks exist in the compact pickup market — Toyota is prepared to get in on the action. Led by historically low fuel prices, regulatory loopholes and changing consumer preferences, a variety of factors have contributed to the ever-growing size of vehicles in the United States. Ultimately, though, there's no getting around the fact that it's spawned something of an arms race wherein drivers are determined to be behind the wheel of the biggest thing on the road — often more out of a feeling of self-preservation than any real need for the size. However, some automakers (Ford and Hyundai) have heeded the call to downsize their offerings and demonstrated a clear demand for compact pickups. With the Maverick and the Santa Cruz being the only two trucks of their kind on the US market, it seems that Toyota now has its eye on a piece of the pie. Compact competition Since introducing the Maverick in late 2021, Ford has improved on the model's sales performance with each passing year. So, even though some 74,370 buyers lined up for a Maverick in the first full year that it was on the market, that number climbed to 94,058 units in 2023 and then again to 131,142 units in 2024. And here's the thing — despite a tumultuous first half of 2025 plagued by tariffs and other political uncertainties, Ford has managed to keep the momentum going. With 98,078 Mavericks moved to date, the Blue Oval has posted an 8.9 percent improvement compared to 2024. Now, it's worth noting that Hyundai hasn't enjoyed the same kind of success in the compact truck segment with the Santa Cruz. Though the brand managed to grow its pickup sales to 36,675 units in 2023, that number fell to 32,033 in 2024. Hyundai is also down 20 percent on the year at just 16,532 trucks sold. In any case, Ford is showing that an established brand reputation in the compact truck segment can make for big gains, while Hyundai is having better luck with its efforts to attract new EV buyers. Given that Toyota's data projects that it could sell 100,000 to 150,000 compact trucks per year in the U.S. alone, there's still plenty of untapped potential for an automaker known for bestsellers like the mid-size Tacoma and the full-size Tundra. Toyota intentions Toyota recognizes as much. In a recent interview with Bloomberg, Mark Templin, COO of Toyota America, stated the brand was 'looking at it' when discussing the possibility of entering the small truck market. By contrast, Cooper Ericksen, head of planning and strategy for Toyota North America, proved far more forthcoming in his talks with MotorTrend. Along with confirming that 'decisions have been made' and that 'we're committed to it,' he also revealed that the pickup will be a unibody truck based on the existing TNGA platform. Moreover, in speaking to the outlet, Ericksen acknowledged that 'full-size trucks and midsize trucks have really gotten expensive.' While the added cost is warranted for those who demand the capability, not everyone wants something that can take them into parts unknown. Consider the Slate EV, for instance. In just two weeks, the electric truck managed to rack up more than 100,000 reservations, marketed for affordability and customization potential rather than typical pickup considerations like payload or towing capacity. Regardless of the powertrain, it's clear that 'small' is in style. A matter of time In speaking to MotorTrend, Ericksen also confirmed that 'it's not a matter of 'if,' at this point' but rather 'how to make it work.' At the time, Toyota was primarily focused on bolstering its all-electric lineup, and the development of such vehicles was proving to be far too taxing to justify work on a compact truck simultaneously. After all, the brand had previously announced a plan to introduce 24 new or updated models through a revised mixed-energy initiative. However, circumstances have since changed. From the phasing out of federal tax incentives to the increasingly bipartisan anti-EV sentiments, electric cars aren't likely to be at the top of Toyota's agenda. If the brand wants to capitalize on the success of Ford's Maverick, it's only a matter of time before its own small truck hits the market.
Yahoo
3 hours ago
- Yahoo
Toyota Might Bring a New Truck to the U.S. That Would Defy All the Odds
Currently, just two trucks exist in the compact pickup market — Toyota is prepared to get in on the action. Led by historically low fuel prices, regulatory loopholes and changing consumer preferences, a variety of factors have contributed to the ever-growing size of vehicles in the United States. Ultimately, though, there's no getting around the fact that it's spawned something of an arms race wherein drivers are determined to be behind the wheel of the biggest thing on the road — often more out of a feeling of self-preservation than any real need for the size. However, some automakers (Ford and Hyundai) have heeded the call to downsize their offerings and demonstrated a clear demand for compact pickups. With the Maverick and the Santa Cruz being the only two trucks of their kind on the US market, it seems that Toyota now has its eye on a piece of the pie. Compact competition Since introducing the Maverick in late 2021, Ford has improved on the model's sales performance with each passing year. So, even though some 74,370 buyers lined up for a Maverick in the first full year that it was on the market, that number climbed to 94,058 units in 2023 and then again to 131,142 units in 2024. And here's the thing — despite a tumultuous first half of 2025 plagued by tariffs and other political uncertainties, Ford has managed to keep the momentum going. With 98,078 Mavericks moved to date, the Blue Oval has posted an 8.9 percent improvement compared to 2024. Now, it's worth noting that Hyundai hasn't enjoyed the same kind of success in the compact truck segment with the Santa Cruz. Though the brand managed to grow its pickup sales to 36,675 units in 2023, that number fell to 32,033 in 2024. Hyundai is also down 20 percent on the year at just 16,532 trucks sold. In any case, Ford is showing that an established brand reputation in the compact truck segment can make for big gains, while Hyundai is having better luck with its efforts to attract new EV buyers. Given that Toyota's data projects that it could sell 100,000 to 150,000 compact trucks per year in the U.S. alone, there's still plenty of untapped potential for an automaker known for bestsellers like the mid-size Tacoma and the full-size Tundra. Toyota intentions Toyota recognizes as much. In a recent interview with Bloomberg, Mark Templin, COO of Toyota America, stated the brand was 'looking at it' when discussing the possibility of entering the small truck market. By contrast, Cooper Ericksen, head of planning and strategy for Toyota North America, proved far more forthcoming in his talks with MotorTrend. Along with confirming that 'decisions have been made' and that 'we're committed to it,' he also revealed that the pickup will be a unibody truck based on the existing TNGA platform. Moreover, in speaking to the outlet, Ericksen acknowledged that 'full-size trucks and midsize trucks have really gotten expensive.' While the added cost is warranted for those who demand the capability, not everyone wants something that can take them into parts unknown. Consider the Slate EV, for instance. In just two weeks, the electric truck managed to rack up more than 100,000 reservations, marketed for affordability and customization potential rather than typical pickup considerations like payload or towing capacity. Regardless of the powertrain, it's clear that 'small' is in style. A matter of time In speaking to MotorTrend, Ericksen also confirmed that 'it's not a matter of 'if,' at this point' but rather 'how to make it work.' At the time, Toyota was primarily focused on bolstering its all-electric lineup, and the development of such vehicles was proving to be far too taxing to justify work on a compact truck simultaneously. After all, the brand had previously announced a plan to introduce 24 new or updated models through a revised mixed-energy initiative. However, circumstances have since changed. From the phasing out of federal tax incentives to the increasingly bipartisan anti-EV sentiments, electric cars aren't likely to be at the top of Toyota's agenda. If the brand wants to capitalize on the success of Ford's Maverick, it's only a matter of time before its own small truck hits the market.
Yahoo
4 hours ago
- Yahoo
What To Expect From Rivian's (RIVN) Q2 Earnings
Electric vehicle manufacturer Rivian (NASDAQ:RIVN) will be reporting earnings this Tuesday afternoon. Here's what investors should know. Rivian beat analysts' revenue expectations by 24.3% last quarter, reporting revenues of $1.24 billion, up 3% year on year. It was an incredible quarter for the company, with an impressive beat of analysts' EPS estimates and a solid beat of analysts' EBITDA estimates. Is Rivian a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting Rivian's revenue to grow 10.3% year on year to $1.28 billion, improving from the 3.3% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.64 per share. The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Rivian has missed Wall Street's revenue estimates twice over the last two years. Looking at Rivian's peers in the automobile manufacturing segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Ford delivered year-on-year revenue growth of 5%, beating analysts' expectations by 7.8%, and Winnebago reported a revenue decline of 1.4%, falling short of estimates by 0.8%. Ford traded up 1.6% following the results while Winnebago was down 8.5%. Read our full analysis of Ford's results here and Winnebago's results here. Investors in the automobile manufacturing segment have had steady hands going into earnings, with share prices flat over the last month. Rivian is down 2.7% during the same time and is heading into earnings with an average analyst price target of $14.76 (compared to the current share price of $12.40). Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
