I have a 99 323i with 80k miles. The tranny warning light would come on after some spirited highway driving. Stopping the car and restarting canceled the light.
The light have never come on during city driving, and there seems to be no problem to drive with the light on. The car runs and shifts as normal.
At about 70K miles during a service, the dealer said there was a bulletin recommending some type of selonid change that would correct this. This service required draining the trans fluid, replacing the part, and refilling.
While this fix seemed to work for about 8k miles. . .the will occasionally come on.
Does anyone have any other thoughts or info on this??
I haven’t read about this specific problem, but somebody at e46fanatics.com may have. Give them a try. And, even though your trans light has gone off, the car may have the code stored in the computer and/or on the key still, so you can try taking it to Autozone (or dealer if you want to pay?)for a code reading. If you get a code at Autozone look it up here…
http://forum.e46fanatics.com/showthread.php?t=303141
…so you have an idea what you are dealing with. Good luck.