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Hi there.
Well because its a auto box you could have a band or pump problem which is in the gear box and is bathed in auto matic fluid oil and that could be your problem as the bands do wear down fast on a lot of cars and BMW with there power that could be you.
So take it to a auto box people and get it checked out.
Please refer to the owners manual for red light warning, it can be low oil pressure or hot engine or emissions system. If you don't have an owqners manual you can find used ones on eBay Motors.
Last month, my wife complained of high gas usage as well. I suddenly remembered that I had forgotten to change the air filter the last time I did the oil change. It had been over 5 months since I'd put a new one in. So, we got a new air filter, and monitored the usage, and it was back to normal again. Maybe try this?
BMW recommends 15W-40. However your driving style can vary what you should use.. Colder climates thinner is better, city driving slightly thicker can be helpful.
I use 20W-50 year round here in PA in my ti without any issues.
The below is taken from another site written a year ago:
What you are looking at is the Service Indicator. The green, yellow and red lights let you know when service needs to be performed. The green lights mean everything is still good. The yellow lights mean "anytime you're ready." The red lights mean do the service ASAP. There are also two other lighted areas. One says "inspection," the other says "oil change" (or oil service.) An oil change is an oil change. However, there are two inspections: Inspection 1 is normally at every other 15,000 miles; Inspections 2 is at every 30,000 miles. Your local BMW dealer should have a pamphlet listing all duties performed for each of the services. Inspection 2 can run you around $400-$800 depending on the service station/dealership's labor rates. Inspections 1 should be around 1/2 of that. You should have your oil changed about every 5000 miles. Dealership oil changes can range from $35-$65. A BMW that is well taken care of will last a long time.
FYI, don't be surprised if the SI (service indicator) board decides to **** out one day. I'm surprised to see yours is still working (they usually die within 10 years unless someone went thru the expense to have it replaced.) If/when it does go, just gauge your services by the mileage intervals I've listed above. I'd also recommend when you stop into (or just call) the dealership, go to the parts department and order an owner's manual for your BMW. Should be less than $20 and get to you in about a week unless they have one in stock. When the service tech has performed the necessary service(s), he will reset your SI board so that only green lights are showing.
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