Strong figures suggest Tesla’s auto business is regaining momentum after two straight annual sales declines

Tesla blew past ​Wall Street estimates for second-quarter deliveries on Thursday, posting a record for the period as recovering demand in Europe outweighed persistent weakness in North America.

The strong figures suggest Tesla’s ⁠mainstay auto business is regaining momentum after two straight annual sales declines, providing the spending cushion needed to power its ambitions in autonomous driving and artificial intelligence – the main drivers of the company’s roughly $1.6tn valuation.