2000 BMW 740I Power Trainautomatic Transmission Problems

I PURCHASED THIS CAR IN MAY 2009 AND SHORTLY AFTER IN THE SUMMER, AUGUST EARLY SEPTEMBER, THE REVERSE STARTED TO ACT UP. SOMETIMES I HAD TO WAIT A SHORT PERIOD FOR THE REVERSE TO ACTUALLY ENGAGE. IT STARTED TO OCCUR MORE FREQUENTLY AND I HAD IT INSPECTED. THE RESULT WAS THAT THE TRANSMISSION WAS THE ISSUE. I HAD THE TRANSMISSION REBUILT IN DECEMBER WHICH COST JUST OVER $4000. IT IS NOW RUNNING FINE BUT II WAS SUPER IRRITATED SINCE THIS AUTOMOBILE WAS SUPPOSED TO BE A LUXURY VEHICLE AND NOT A LEMON. BMW SHOULD HAVE TO COMPENSATE CUSTOMERS FOR THESE TYPES OF ISSUE AS I BELIEVE A TRANSMISSION SHOULD NOT FAIL IN THIS TYPE OF CAR THAT IS SUPPOSED TO HAVE SUCH A GREAT REPUTATION. *TR

I JUST RECEIVED AN EMAIL GIVING ME AN UPDATE ON CONSUMER COMPLAINTS. I OWN A 2000 BMW 740I AND THE REVERSE ALSO WENT OUT ON THE TRANSMISSION AND I HAD TO HAVE IT REBUILT. I BELIEVE THAT BEING "A TOP OF THE LINE AUTOMOBILE" THE REVERSE SHOULD NOT BE FAILING. *TR

ABOUT NOVEMBER OF 2007 I BEGAN TO EXPERIENCE A DELAY IN ENGAGING REVERSE. I WENT TO HAVE THE CAR SERVICED FOR THIS AND THE PROBLEM WAS DIAGNOSED AS A POSSIBLE VALVE BODY ISSUE WITH REPLACEMENT OF THE TRANSMISSION BEING THE BEST SOLUTION BECAUSE THEY WERE NOT SURE AND IT WAS THE ONLY WAY TO BE SAFE. MARCH OF 2008 THE REVERSE GEAR COMPLETELY FAILED AND FROM THAT POINT UNTIL PRESENT THE CAR WILL NOT REVERSE. I TOOK THE CAR TO A DIFFERENT REPAIR SHOP FOR A SECOND OPINION AND I WAS TOLD THE SAME THING, "REPLACE THE TRANSMISSION" TO BE SAFE. I EVEN CONTACTED BMW OF NORTH AMERICA ABOUT THIS PROBLEM. *TR