In June 2010 I purchased a CPO 2007 328i with 20k miles with original warranty until March 17, 2011. Today I was informed by the dealership that the peeling and bubbling of the vinyl on the center section of the steering wheel is considered a 'wear and tear' item after 15k miles and not covered by the warranty. The car now has 36k miles. You can see that the peeling is close to where your thumb would rest and the pucker is on the lower edge where no contact occurs. When I contacted Customer Relations they advised I contact the dealership GM where I might get some pricing relief while they filed a 'formal complaint' on my behalf to be reviewed by 'executives'. This is a design issue at the least, a materials issue certainly. If the peeling of the vinyl after 15k miles is acceptable then the quality standards have indeed fallen. I am so very disappointed, this could have been so easy.