Harley-Davidson Inc on Thursday reported a 24% fall in third-quarter profit as customers cut back on discretionary spending due to higher borrowing costs and inflationary pressures.

The company's net profit fell to $198.6 million, or $1.38 per share, from $261.2 million, or $1.78 per share, a year earlier. (Reporting by Kannaki Deka in Bengaluru and Bianca Flowers in Chicago; Editing by Sriraj Kalluvila)