A treadmill is provided that has a treadmill drive motor carriage that can pivot relative to a frame of the treadmill such that the incline of the treadmill can be controlled while the carriage can be moved to a position that permits upright storage of the treadmill on the carriage. This arrangement advantageously permits a walk through treadmill design to be used that can be stored uprightly. The treadmill can be equipped with a console and stanchion that can be folded against the deck of the treadmill. One incline arrangement pivots the carriage using an incline drive carried by the carriage that engages a gear grounded to the treadmill frame. Another preferred incline arrangement uses a four bar linkage movable carried by the frame that is driven by a linear actuator to pivot the carriage.