Yes, it's the sensor pad that is the problem. BMW really sucks regarding this problem. If you are lucky enough that they will warranty it (it wasn't 15 years before the cars were 15 years old BTW) the repair will be to bypass the sensor! Of course if your paying then the repair needs to be done properly for $1600.

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1988 325is (purchased new) sold
2004 X5 3.0 2005 X3 2.5
2008 X5 3.0 (new to me)