Sean already mentioned this, but I have to HIGHLIGHT IT. Tesla generated $595 million in zero-emissions regulatory credits in the first quarter. While that is higher than in Q1 2024, Tesla has brought in bucket loads of revenue from regulatory credits in the second, third, and fourth quarters of 2024. In Q2, it was $692 million, $739 million in Q3, and a whopping $890 million in Q4.
In years past, those credits augmented already stellar profits. In this quarter, at least, they prevented Tesla from showing a loss in net income.