(Reuters) - Harley-Davidson posted a 23% decline in first-quarter profit on Thursday, hurt by slow sales of its motorcycles in North America as high borrowing costs deter potential buyers from making expensive purchases.

The company reported a consolidated net income of $235 million, or $1.72 per share, for the first quarter, compared with $304 million, or $2.04 per share, a year earlier.

(Reporting by Kannaki Deka in Bengaluru; Editing by Anil D'Silva)