BMW (abbreviation for Bayerische Motoren Werke AG ) - is a German luxury vehicle and engine (for cars and aircraft) manufacturer, established in 1916. The company headquartered in Munich, Bavaria. The BMW produces a wide model range of vehicles, motorcycles and bicycles under its own brand, compact cars under Mini brand, and also owns Rolls-Royce Motor Cars. It is has been involved in motorsports since 1923 when the first BMW motorcycle was born. Later it had success in a various sportscar (19 wins in the 24 Hours Nürburgring race), touring car (24 wins in ETCC) championships and in a Formula One.