Tesla market value surges past U.S., European auto indexes

Tesla Inc. is more valuable than not only every other automaker, but also entire segments of its industry. The electric-car maker surpassed the market value of the S&P 500 Automobiles and Components Index and the Stoxx Europe 600 Automobiles and Parts Index this year, according to data compiled by Bloomberg. Tesla’s value as of Tuesday was $304.8 billion, more than triple the total for the S&P 500 industry group and 17% higher than the Stoxx group in dollar terms. While Tesla trails the Topix-17 Automobiles and Transportation Equipment Index, the dollar gap narrowed 65% for the year through Tuesday.