Disney announce Incredibles 2 and Cars 3 are being developed

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.

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