P0016 is telling you that there is a problem in the timing system, either the chain is worn or jumped time a bit.
It will not be the sensors themselves as the code shows they are working and the engine is running okay.
Basically the code means that the camshaft and crankshaft are out of time with each other enough that it is causing a problem. Not an uncommon thing these days. The repair is a new timing set and be sure to replace the guides and tensioner. As it is saying the cam chain is bad you will want to replace the balance shaft chain as well as it will have the same wear amount.
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Wednesday, February 21st, 2018 AT 1:51 AM