Automotive revenues dropped 7% year-over-year, but revenue increased due to doubling sales in batteries and solar, and a significant rise in regulatory credits, contributing to overall revenue growth of 2%.
Tesla's net profits fell by 45% year-over-year, attributed to a shrinking average sales price, while operating margin decreased by 33% to 6.3% despite increased revenues.
The company's focus on expanding sales in batteries, solar products, and regulatory credits offset reductions in automotive sales, leading to revenue growth despite a decline in profits.
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