(Alex Kraus/Bloomberg)Key Takeaways: Mercedes-Benz CEO Ola Källenius said in Finland that intense price competition in China’s auto market will likely persist for years. Chinese brands led by BYD dominate EVs and are targeting luxury buyers, contributing to Mercedes’ 30% second-quarter China sales decline and industry restructuring. Mercedes opens German orders for the redesigned GLA on July 30 as it seeks to rebuild sales toward roughly 2 million vehicles annually. When reporting earnings this week, Mercedes pledged more cost cuts, particularly in Germany, to underpin returns after a 30% second-quarter sales drop in China. That decline wasn’t much bigger than the slump in the country’s overall market, Källenius said in Finland.