Mercedes-Benz CEO Ola Källenius stresses the urgent need for a productivity offensive in Germany as the automaker grapples with significant profit declines and increasing competition from China.

Germany needs to cut costs and boost productivity, Mercedes-Benz boss Ola Kaellenius demanded Tuesday as he presented second-quarter profit hit by fierce competition in China.

Ola Källenius warnt: Hohe Kosten machten den Industriestandort Deutschland unattraktiv. Er nennt ein osteuropäisches Land als leuchtendes Vorbild. Die Gewerkschaft warnt vor…