Cars Disney

Walt Disney Company chief Bob Iger said Tuesday that Pixar plans to produce a third installment of its “Cars” franchise, and a sequel for “The Incredibles.”

The executive made the announcement during the company’s shareholders meeting in Portland, Ore., providing few other details.

“Cars 2,” Pixar’s 12th film, earned nearly $560 million worldwide in 2011; $191 million in the U.S. While somewhat of a critical disappointment, the film, directed by John Lasseter, still minted millions for Disney from consumer products like toys, apparel and other merchandise, a series of “Cars Toons” shorts, and helped spin off the company’s newest franchise, “Planes,” a film that was originally developed as a direct-to-homevideo title but went on to launch its own toy line and earn around $220 million worldwide when it was released theatrically in 2013. A sequel, “Planes: Fire and Rescue” bows July 18.

Cars Land also has been a major draw for Disney’s California Adventure theme park in Anaheim, helping turn around that park by significantly boosting attendance.

The first “Cars” bowed in 2006, earning $461 million ($244 million domestically).

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“The Incredibles”-director Brad Bird is writing the sequel for the superhero pic, Iger said. Bird is currently helming Disney’s live action “Tomorrowland,” starring George Clooney, in theaters May 22, 2015.

In addition to the new films, Disney plans to re-release “The Incredibles” in 3D, as well as “Ratatouille,” the way it’s reformatted Pixar’s “Toy Story” and “Toy Story 2,” “Monsters, Inc.” and “Finding Nemo.”

Fans have long been requesting an “Incredibles” sequel since the film went on to earn $631 million in 2004. The film’s characters are strong sellers in the Mouse House’s “Disney Infinity” game.

Pixar’s upcoming films include 2015′s “Inside Out,” which takes place inside the mind of an 11-year-old girl, Thanksgiving’s “The Good Dinosaur,” and the “Finding Nemo” sequel “Finding Dory,” in 2016.

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