I am making an official post about this issue so that if someone searches for it in the future it make have some value. I haven't found anything much on the web the help me...
2014 7 Series Parking Brake Malfunction Issue. It seems to only really be a problem on 2014 models. I have a 2013 with no issues. Both of my 2014's have the yet to be solved issue. This is partially because there doesn't seem to be a TSB about it yet and the part is not in stock in the USA. Issue occurs on my 2014 750i and my brand new 2014 750 LI
The Part # 61 31 9 318 731
This is the parking brake button and parking hold button assembly.
Not always, but more often than not, we get this message on the iDrive display: Parking Brake Reduced. Contact Service Center
and this message in the cluster: Parking Brake Limited!
Sometimes, the button itself buzzes as if it is trying to do something. My understanding is that BMW changed this part for the 2014's, if you look at the following website, it is a different part number for 2014's on up.
I hope this issue can get mopped up quickly as I really love my 3 sevens and two of them, less than a month old at the point of this post, have this issue. I will respond when I have a solution or more data. If anyone else has this issue, please chime in so that we can have some collaborative data on this otherwise unknown / unsolved issue.
Found on the web, the parts diagram for the LCI 7:
http://www.etk.cc/EN/search/selectGr...21/61319318731
This is Part #3 on the Photograph posted.
Thanks!
-Rob in Los Angeles