My '96 model 318i automatic has developed a ticking noise which seems to be from the engine. It's not obvious at cruising speed, but appears when starting off and accelerating. Oddly though the frequency hardly seems to change whichever gear it's in. It also does it when revved in neutral at a standstill.
It's not the exhaust blowing. On an older car it would sound like valve clearance (tappet) rattle, but this has hydraulics and I'd expect the frequency to change more obviously.
Anybody?