Peleton's new unique partnership

Market Overview
Read time 1.4 minutes

Hey All,

Thanks for sticking with me over the past few weeks with inconsistent send times. I’ve been travelling and doing my best to summarize and get the news out to you. I'm back home tomorrow, and we will be back to consistent and regular content on Monday!

Year To Date Performances:

1. Peloton, in an effort to revamp its image and expand its customer base amid declining sales, has struck a significant deal with TikTok. The collaboration introduces "#TikTokFitness Powered by Peloton" on the social media platform, featuring a range of fitness content including short videos, live classes, contributions from Peloton instructors, and partnerships with TikTok influencers. This initiative aligns with Peloton's six-month-old strategy of rebranding as a comprehensive fitness brand, accessible to a broader audience. It also complements their new tiered pricing model for their app, aimed at attracting customers interested in digital content rather than their premium exercise equipment. Peloton initially gained popularity during the Covid-19 pandemic with its home fitness products, but faced a steep decline in demand as normalcy resumed post-pandemic.

2. General Motors (GM) reported a 14.1% increase in U.S. vehicle sales for 2023, marking its most successful year since 2019 and overcoming supply chain challenges. The automaker sold 2.6 million vehicles in the past year, including 625,176 in the fourth quarter, matching the sales of the same period in the previous year. The growth in GM's annual sales was primarily fueled by a 61% surge in its Buick brand and a 13.1% increase in Chevrolet sales. Additionally, the GMC and Cadillac brands each saw around a 9% rise in sales in 2023. In contrast, GM sold approximately 2.3 million vehicles in 2022 and 2.9 million in 2019. Looking ahead, GM projects total U.S. industry sales to reach 16 million in 2024, potentially the highest since the 17 million units sold in 2019 and in line with industry analysts' forecasts.

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4. Headlines

   1. Private sector payrolls added 164,000 jobs in December.

   2. Jeff Bezos, an early backer of Google, is now investing in Perplexity, a new competitor that will leverage AI to compete with Google in search.

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Onwards and Upwards,

Liam Gill