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Values snowball for legendary Tucker Sno-Cats, latest toys of the super rich

Here's a fun-sounding vehicle perfect for the cold and snow that's currently gripping much of North America. Tucker — no, not that Tucker — just marked its 75th anniversary making the Sno-Cat, its orange-painted, four-tread snow vehicles that have inspired backcountry skiers, collectors — and increasingly, the super rich. Bloomberg in a recent story writes that demand for the Medford, Ore.-based company's products is soaring on demand from the wealthy, who need a way to get to their backcountry mountain retreats. They're also in demand from collectors and gearheads who also love snow, like two anonymous collectors who are believed to have amassed more than 200 vintage Sno-Cats. The value of vintage models has reportedly tripled in the past five years to well over $100,000 for a fully restored rig. Tucker Sno-Cat Corp. claims to be the world's oldest surviving snow vehicle manufacturer, launched by E.M. Tucker in 1942 out of a desire to design a vehicle for traveling over the kind of deep, soft snow found in the Rogue River Valley of his childhood. It was four Tucker Sno-Cat machines that helped English explorer Vivian Fuchs and his 12-man party make the first 2,158-mile overland crossing of Antarctica in 1957-58. While many of the company's competitors either shuttered or adapted to serving ski resorts with wider, heavier treads, Tucker has stuck to its formula of making lightweight vehicles to travel over deep snow. Many Tuckers use Chrysler's flat six-cylinder engine, or its Dodge Hemi V8 for larger Sno-Cats, mounted rear or centrally, with basic, no-frills aluminum cabins. Sno-Cats all have four articulating tracks that are independently sprung, powered and pivoted at the drive axle. Track options come in three different types: conventional steel grouser belt track, rubber-coated aluminum grouser belt track, and one-piece all-rubber track. Steering is hydraulically controlled by pivoting the front and rear axles for smooth movement over undulating terrain with minimal disturbance of the ground cover. The company today makes 75 to 100 Sno-Cats a year for customers including the U.S. military, oil-drilling crews in cold places like Alaska and North Dakota, and utilities. But demand is so high that it's launched a profitable service reselling and refurbishing old machines. E.M. Tucker's grandson, Jeff McNeil, now head of this division, scours Google Earth for abandoned Sno-Cats rusting in backyards that he might be able to acquire and fix up.

FCA facing class-action lawsuit over Grand Cherokee shifters

Fiat Chrysler Automobiles is now facing a multi-million-dollar class-action lawsuit over the recalled shifter design in the 2014 and 2015 Jeep Grand Cherokee, and the 2012 to 2014 Dodge Charger and Chrysler 300. Grand Cherokee owners, galvanized by Star Trek actor Anton Yelchin's fatal accident, filed the suit. According to The Wall Street Journal, the owners allege that FCA concealed the shifter's problems. On top of restitution, the class action suit is demanding a court order force FCA to issue a do-not-drive warning to owners of affected vehicles until it fixes the problem. FCA started distributing a software fix to dealers last week – according to the WSJ, the update will add more warnings about the shifter's position and will automatically kick the vehicle into park if the driver steps out. FCA's shifter problems have been bubbling under the surface as part of the company's recall issues. The US government dinged FCA with a $105 million fine last year for its recall practices (or lack thereof) last year, but things have exploded this week after Yelchin's death. The 27-year-old, best known for playing Ensign Pavel Chekov in the rebooted Star Trek film series, was killed after his 2015 Grand Cherokee rolled down his driveway and pinned the actor against a security gate. According to Jeep CEO Mike Manley, the company will dispatch engineers to analyze Yelchin's vehicle. Related Video:

Peugeot maker PSA posts record profits ahead of FCA merger

PARIS — Peugeot maker PSA Group said its profitability reached a record high in 2019 but the French carmaker forecast falling industry sales in Europe this year as it pursues its merger with Fiat Chrysler, which is strong in North America. PSA has trimmed costs in areas such as the procurement of components as it has integrated its acquisition of Opel and Vauxhall, boosting operating margins to 8.5% last year. The group, which also produces cars under the Citroen and DS brands, offset a slump in vehicle sales by selling pricier SUV models, with launches including the Citroen C5 Aircross helping to lift revenues by a higher-than-expected 1% to $81.2 billion (74.7 billion euros). That helped it stand out in a car market where some rivals including France's Renault have struggled with sliding revenues and profits, amid a broader downturn in demand. PSA's group net profit increased 13.2% to a record 3.2 billion euros, and the company increased its dividend against 2019 results to 1.23 euros per share, up 58% from 2018 levels. The carmaker was "once again very solid", analysts at brokerage Oddo-BHF said in a note, adding the results confirmed the company's "best-in-class status." However PSA forecast a 3% contraction in Europe's car market this year, by far its biggest market. The tie-up with Fiat Chrysler will help it gain exposure to that group's strong presence in North America with brands like Jeep. The two companies struck a deal in December to create the world's No.4 carmaker, to better cope with market turmoil and the cost of making less-polluting vehicles. Fiat also posted more upbeat results than most rivals this year. CORONAVIRUS WEIGHS PSA boss Carlos Tavares told a news conference that the two groups were both in good shape and well placed to face market challenges together. He said he did not expect any major regulatory hurdles to the merger, adding it had so far submitted 14 approval requests to competition authorities out of the 24 it needs. There are no immediate plans to change anything in the large portfolio of brands within the combined group, he added. However the companies still face problems this year, including the coronavirus outbreak which has paralyzed production in China and hits carmakers' supply chain. PSA said the coronavirus impact was still difficult to assess. It factories in Wuhan, at the epicenter of the outbreak, are due to reopen in the second week of March.