BERLIN, July 24 (Reuters) - Porsche CEO Oliver Blume said on Wednesday the carmaker assumed challenges would remain in the China market in the medium term and was accepting lower volumes rather than joining the price war in the country.

The carmaker was reviewing and prioritising its cost structures globally and readjusting strategy in some areas, Blume said, adding he was confident the carmaker was on track to hit its 17-19% mid-term target for return on sales by 2025. (Reporting by Victoria Waldersee Editing by Ludwig Burger )