I spoke to a detailer about this problem because the same thing happened to our '95 325 ic. He said that this happens to many BMW's because they have very soft paint. You should see the hood of our black 325ic. It is shiny and looks brand new except for the 300 tiny white chips that cover its surface! For this reason, I made my parents buy the white X5! Anyway, I don't think that there is any way to fix this other than getting it repainted (of course) or getting it professionally buffed. And the latter probably will only lessen the sight of the chips, not remove them.