A Tesla analyst has said the company's Full Self-Driving technology is approaching an inflection point that could change how consumers view the vehicles, much like the early days of the iPhone.
Pierre Ferragu of New Street Research made the comments in a recent analysis. He argued that a Tesla is more than a car in the same way an iPhone became more than a phone once users saw its broader value.
Ferragu noted that early perceptions of the iPhone's price tag shifted as people realized its usefulness. He said a similar evolution could occur for Tesla once the technology advances further.
The analyst stated that two more quarters of development would help clarify the direction. He added that a Model 3 priced at $35,000 plus $100 per month may seem expensive as a car alone but could appear reasonable as a tool for daily commuting.
Ferragu highlighted how the iPhone's addressable market grew from an initial estimate of 10 million units to nearly 250 million sold annually after broader adoption.
