During a meeting with shareholders and D23 members in Portland, Oregon, Disney's head honcho Robert A. Iger confirmed that they are working on sequels for two of their more successful titles in recent years.  Iger said that the two movies are The Incredibles 2 and Cars 3.The film is expected to be developed by Pixar instead of Disneytoon Studios which handled the making of the second Cars film in 2011.

The original Cars movie was released to great reception by critics and moviegoers in 2006.  It tells the story of a rookie race car named Lightning McQueen who got lost on his way to the biggest race of his career and ended up staying in an out of the way town.  There he formed a strong friendship with the locals and eventually learned about family and friendship.  The movie was developed with about a $120 million budget and ended up raking in more than $244 million in the US.

The sequel saw McQueen joining a World Grand Prix race which showed more of the Cars universe as they travel around the world.  Unfortunately for the sequel, it was not as successful as the first one.  The estimated budget for the second film was $200 million and it only grossed around $190 million domestically.

Cars 3 would see the same voice talents reprising their roles.  Owen Wilson will be the voice of McQueen while Larry the Cable Guy did the voice for Mater, Lightning's trusty sidekick who played a big role in the second movie.

To date though, no new development about Cars 3 has surfaced.  For instance, there is no word yet where the new film would be set and would John Lasseter be directing again as he has done so for the first two movies.  McQueen fans would have to wait a little longer it seems.