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Hi, I also had problems starting the car and the code P0340 so I removed the cam position sensor by just taking off the VANOS (the sensor was real dirty and had some gray gel on it) and I cleaned re-installed it and the car works again and the service engine light went out too. I still have to test it for a few days to see if is fixed for good, if not I'll just get a new sensor, but all I did so far was cleaning it and this looks like it solved the problem and it only took 20 min for the whole thing.
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