According to a training manual posted on another X3 site, there are two modes of emergency transmission release (releasing from Park and into Neutral): electronic and manual.
Electronic (procedure valid if car cranks but does not start)
Will remain in "N" for fifteen minutes (e.g., sufficent to load on flatbed tow truck). The documents say the vehicle must only be maneuvered and not towed.
- Press start/stop, starter cranks and then stops
- Depress shifter release button on side of shifter
- Move shifter forward one notch and hold for exactly two seconds
- Release the shifter
- Move the shifter forward one notch
- Display shuld read "N"
The documents say that either procedure must only be performed by trained service personnel. The training document has a picture of the screw and the lever.
- Raise vehicle and remove underbody panel
- Locate screw on transmission housing body that engages manual park release lever
- Screw the screw in all the way to engage the lever and release transmission from Park
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