Bayerische Motoren Werke Aktiengesellschaft (BMW Group), together with its subsidiaries, engages in the manufacture and sale of cars and motorcycles worldwide. It operates in three segments: Automobiles, Motorcycles, and Financial services. The Automobiles segment develops, manufactures, assembles, and sells cars and off-road vehicles under the BMW, MINI, and Rolls-Royce brands, as well as spare parts and accessories. This segment sells its cars and off-road vehicles through authorized dealers and independent import companies. The Motorcycles segment manufactures, assembles, and sells BMW brand motorcycles, as well as spare parts and accessories. The Financial Services segment focuses primarily on car leasing, fleet business, retail customer and dealer financing, customer deposit business, and insurance activities. BMW Group was founded in 1916. It was formerly known as Bayerische Flugzeugwerke AG and changed its name to Bayerische Motoren Werke Aktiengesellschaft in 1918. The company is headquartered in Munich, Germany.