Bayerische Motoren Werke AG (BMW) is a German automobile manufacturer that focuses on the worldwide automobile and motorcycle markets. It operates in automobiles, motorcycles and financial services segments. It owns three brands: BMW, MINI and Rolls-Royce. Its BMW automobile range encompasses the 1 Series, including three-door, five-door, coupe and convertible models; the 3 Series, including sedan, touring, coupe and convertible models; the 5 Series, available in sedan and touring models; the 6 Series, available as a coupe or convertible; the 7 Series large sedan; the Z4 roadster and coupe; the sports utility vehicles, X3, X5 and X6 and M models, such as M3, M5 and M6. It also offers cars under the MINI brand and motorcycles under the BMW brand. The Rolls-Royce brand offers three luxury cars, Phantom, Drophead Coupe and Coupe. BMW launched seven new car models in 2008, two of which were revised models. It has producing, assembly, service and sales subsidiaries throughout the world.