Yes it does, and BMW says it's a good thing (less air drag than forcing the air through the radiator). Also, be prepared the grilles only open up when the engine is really - I mean really - seriously warm. After half an hour drive on a motorway at speeds reaching 200 km/h, I checked and they were still closed.
In many hour trip, I inspected them when stuck in a traffic jam under July sun; they were wide open.
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previous: 2003 E46 330i SMG
just sold: 2013 F10 528i xDrive
my AWD beater: 2015 Golf R mk7 DSG
my RWD pirate & long-distance cruiser: 2015 M235i AT8, LSD
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