Pixar's name seems to have been engraved on the best animated film Oscar for the last few years, but if lukewarm early reviews are anything to go by, 2012 may just be the year in which Cars 2 drops the baton. Fortunately, the California company behind Up, Wall-E and the Toy Story films appears to have plenty up its sleeves to avoid disappointment.

The first official trailer for Brave, due for release next summer, is currently debuting at screenings of Cars 2 in the US. It's Pixar's first fairytale and has been described as having a darker, Brothers Grimm edge.

Set in the Scottish highlands, the film concerns flame-haired archer princess Merida (voiced by Kelly Macdonald), who according to the official synopsis "confronts tradition, destiny and the fiercest of beasts ... to carve her own path in life". From the look of the promo, Brave has a distinct muted colour palette characterised by soft, organic tones, a million miles away from the glossy look of Toy Story or Cars.

Pixar spends at least four years working on each of its films, so this one would have been in development long before rival DreamWorks released How to Train Your Dragon last year – yet some critics are bound to point out the resemblance between the two movies. The latter film also featured a largely Scottish cast, though weirdly its characters were supposed to be of Viking heritage.

Also playing in front of Cars 2, which arrives in the UK on 22 July, is new Toy Story short Hawaiian Vacation, in which Barbie and Ken are treated to a five-star indoor holiday experience courtesy of Woody and Buzz et al after their plan to stow away in Bonnie's backpack for a trip to Hawaii goes awry. Last year's Toy Story 3 seemed to round out the story arc nicely for the series, but might the new short hint at the prospect of Toy Story 4? After all, Pixar seems to be increasingly happy to return to past glories: a sequel to Monsters Inc titled Monsters University is to be released in 2013.

Speaking on BBC Breakfast News on Monday, Tom Hanks, who voices Woody, appeared to let slip that Pixar is working on a new Toy Story film. Asked if there might ever be a Toy Story 4, he replied: "I think there will be. They're working on it now."