Porsche CEO Oliver Blume stated on Wednesday that the company expects the Chinese market to continue facing challenges in the mid-term and will accept lower sales rather than joining the price war in China. Blume said Porsche is evaluating and prioritizing its global cost structure and is readjusting its strategy in certain areas. He added that he believes Porsche is on track to achieve its mid-term sales return target of 17% to 19% by 2025.