My sister's 330i is PZEV and spec's an LL-01 (full-SAPS) oil.Keep in mind that catalysts have become more efficient with the introduction of PZEV vehicles. OEM's also have an obligation to make the catalyst last the full length of the PZEV warranty, which is 10 years or 150K.
OEM's also allow for some oil consumption, so the oils must be able to not destroy catalysts during that timeframe.
The difference of course is that it specifies an oil that has an HTHS of at least 3.5cP, and so BMW had no inclination to reduce SAPS levels with just catalysts on these vehicles. Noack is also capped at 10%.
And yes, exactly, OEM's have to allow for some oil consumption and, with the shift to thinner oils that are more likely to consume, we saw the API cap phosphorous on those specific oils, while the xW-40's were exempt.
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