In short, winter weather and guitars don't mix well at all. Winter weather causes humidity to fluctuate, which can cause all sorts of problems with your guitar. Cracked finishes are common in extremely cold temperatures, but other issues include neck warping and twisting.
Acoustic guitars, especially the more expensive ones, are most affected by humidity and temperature because they’re made from ultra-thin sheets of wood and held together primarily by glue. Lots and lots of glue. These (mostly organic) materials are sensitive to extremes in humidity.
Solidbody electric guitars are generally less sensitive to weather conditions, because they tend to be built with thick slabs of wood and are held together more with screws and similar hardware. However, this doesn’t mean electric guitar owners are completely off the hook. They still need to pay attention to this stuff too.