"Cars" zoomed to an estimated gross of $62.8 million this weekend in the U.S. and Canada, blowing away the box-office competition. But it fell shy of the lofty standard set by its creator Pixar, the computer animation powerhouse.
The family-oriented movie is the first of Pixar's seven releases to open with a box-office tally below the previous one. It averaged $15,759 at 3,985 theaters.
The opening, although strong, fell short of many analysts' expectations. They had expected the movie's opening to bring in at least $70 million, matching the last two Pixar releases.
"Pixar is like the parent who has a straight-A student: One day the child comes home with a B-plus," said Anthony Valencia, an analyst at money management firm TCW in Los Angeles.
The previous Pixar release, "The Incredibles," rang up $70.5 million when it premiered in 2004, and "Finding Nemo" opened at $70.3 million the previous year.
Pixar's first movie was 1995's "Toy Story," which opened at $29.1 million.
"Cars" is the first Pixar release since the animation studio was purchased by Walt Disney Co. for $7.4 billion this year. Disney downplayed the high expectations for "Cars," saying Pixar had produced another hit.
"They are batting 7 for 7," said Chuck Viane, president of distribution for Disney. "This is a home run in anybody's ballpark -- you don't measure the feet."
Viane said the movie posted an opening similar to last year's Disney smash "The Chronicles of Narnia: The Lion, the Witch and the Wardrobe," which premiered at $65.6 million and went on to gross $291.7 million in the U.S. and Canada.
"Cars," which cost an estimated $150 million to $160 million to produce, generated strong reviews, although critics weren't as thrilled as they had been about some of Pixar's films, including its biggest hit, "Finding Nemo."
Analysts expected the movie to ultimately gross $250 million to $300 million in the U.S. and Canada, and as much as $700 million worldwide. But they said the film might have trouble attracting females and foreign audiences because of its male-oriented and distinctly American subject matter.
Even so, "Cars" attracted an audience this weekend that was 49% females, according to Disney, and is sure to be profitable.
"The $63-million opening is mildly below expectations, but the ultimate success of the film will depend on its domestic 'legs' and its international performance," said Lowell Singer, analyst at Cowen & Co. in San Francisco.
