It’s been a rough few years for Peloton, as the fitness company has come to realize the hard way that luxury at-home fitness equipment isn’t the easiest sell when the economy is the way it is. The company’s latest treadmill could actually fit into your budget—if you happen to have $2,195 lying around.

The Tread Flex is both Peloton’s least expensive treadmill ever and its first foldable one. Yes, $2,195 isn’t exactly pocket change for many, but it comes in at more than $1,000 cheaper than the previous-gen Tread, which retails for $3,295. (The Tread+, meanwhile, comes in at a whopping $6,695.)

When folded, Peloton says the Tread Flex takes up about half the floor space versus when it’s opened fully, making it an ideal buy for those living in smaller spaces like apartments. The Tread Flex’s wheels can be locked into place while in operation and then unlocked for easy stowage; it includes a slow-opening mechanism for safety, too. Peloton says the Tread Flex’s ultra-quiet motor peaks at 70 dB at max running speeds of 12.5 mph.

Peloton’s last generation of treadmills, introduced in October 2025, are also getting a refresh, along with new branding. The Tread is now the “Tread Vision”; the Tread+ is now the “Tread+ Vision.” They’ll be available for $3,495 and $6,695, respectively, which puts the Tread at a $200 increase over its predecessor. They’re not huge upgrades over previous models, really, though the Vision models do have better cushioning and a redesigned tray for holding your electronics and water bottle. The Tread+ Vision includes a new “sled” mode for CrossFit and Hyrox trainers.

Both new treadmills include motion tracking cameras to enable Peloton’s IQ features, which provide personal feedback on your running. There’s a new running analysis feature that, once calibrated, provides a “running efficiency score” based on your steps, cadence, and stride length.

These new treadmill offerings aren’t exactly affordable, per se, but the Tread Flex does open up a slew of new potential customers for Peloton who might’ve not been interested in its products before. The company could use those customers—the company’s stock has dropped 42% since it last released new products.

Peloton’s Tread Flex, Tread Vision, and Tread+ Vision will all be available in North America beginning on Oct. 1, and it’s expected to come to other markets in spring 2027.