I've done a search and came up with lots of answers regarding the problem I have with my E39.
For the past week my ASC and ABS warning lights have illuminated as well as the MPG Indicator (below Rev Counter) and Speedo gauges stopped working, the OBD which I usually have set at fuel range also starts to go all over the place and when I switch off the engine it pings up "check engine oil level", (oil is fine, topped up to the max and no leaks).
After reading all the other posts on this it seems it's a fairly common fault which appears and is down to either the ABS Module being faulty or knackered or a speed sensor on one of the wheels, probably the true fault light bringing up the others in tandem.
What I want to know is can I assume that the faulty sensor is related to the speedo and if so which wheel sensor do I check first rather than go round them all at random and wasting time and effort.
My thinking is that with the speedo needle going dead this will point me to the faulty sensor if that is the cause.
Do I need a diagnostic check for this. ?
Thanks for any advice.