Peloton's cheaper treadmill will cost $2,495, coming early next year

Editor's note, May 5, 2021: Peloton has issued a voluntary recall of its newer Tread and original Tread Plus treadmills because of reports of injuries and a potentially fatal risk to children and pets. At this time, you cannot purchase the new Tread or older Tread Plus from Peloton. See the full details of the recall.

The new Peloton Tread will be $2,495 and will be available in the US and Canada in early 2021, the company revealed Tuesday. The original Peloton Tread will be renamed Peloton Tread Plus and keep its $4,295 price tag, as reported last week.

It includes a 23.8-inch adjustable HD touchscreen with built-in speakers. In total, the new treadmill is 68 inches in length, 33 inches wide and 62 inches high. The cheaper treadmill will hit the UK Dec. 26, 2020, costing £2,295, and will come to Germany in 2021. No euro price was given.

The new Peloton Bike Plus will be $2,495, and it comes out Wednesday. It has a 23.8-inch HD touchscreen that can rotate 180 degrees left and right, a four-speaker sound system and quick integration with Apple Gymkit (allowing you to pair your Apple Watch with the bike).

With gyms still closed in many parts of the US due to the coronavirus pandemic, home exercise equipment has seen a surge in interest. In May, Peloton reported sales topping $500 million for its fiscal third quarter.

Read more: 5 best Peloton alternatives: Great indoor exercise bikes that cost less