The indicator light of a 1992 BMW 325i that looks like a gear and exclamation point in the center means your car is in 'limp mode'. The car in limp mode will function very limitedly (low gear, lower speed) and the check engine light will likely come on shortly. You should take your vehicle to a mechanic as soon as possible to diagnose the problem.
The gear with exclamation point light is illuminated for the following reasons:
• Automatic Transmission overtemperature protection
• Automatic transmission is in “limp home mode“
• Transmission malfunction
• Transmission oil leaks and low fluid level
• Faulty transmission control unit
• Faulty speed sensor
• Faulty transmission solenoids
