(Reuters) - Harley-Davidson ( HOG ) said on Wednesday it expects 2025 motorcycle revenue to be flat to down 5%, as consumers pulled back from big-ticket purchases, sending its shares down about 3.5% in premarket trade.

Demand for leisure vehicles has fallen off since the pandemic, while sticky inflation and steep borrowing costs have forced cash-tight Americans to prioritize spending on necessities rather than luxuries.

The storied motorcycle maker has also struggled to gain traction with younger riders, who are choosing modern, feature-packed and affordable bikes from other manufacturers instead.

The company also reported a fourth-quarter net loss of $117 million, or 93 cents per share, compared with a profit of $26 million, or 18 cents per share, a year earlier.

Total revenue for the quarter ended Dec. 31 was $688 million, down 35% from a year earlier.

(Reporting by Nathan Gomes and Aishwarya Jain in Bengaluru; Editing by Devika Syamnath)