1) The power steering completely failed without any warning as a result of the serpentine belt failing catastrophically. 2) The failure happened in rush hour traffic right as the light turned green to turn left on an extremely busy intersection. I couldnât turn the wheel and was a few inches from a head on collision with several large trucks which were also turning to the opposite direction. 3) The service center explained that this issue is the most common that they see on bmws with the same engine. They alleged that BMW used a faulty power steering bolt that would leak fluid onto the belt, eventually leading to catastrophic engine failure due to the shredded belt being sucked into the crankshaft seal. 4) Yes. 5) The steering was heavy but the bmw dealer assured me the vehicle was in excellent shape just a few weeks prior to this incident.
National Highway Traffic Safety Administration — Office of Defects Investigation