So my gf just bought a 2005 s80 (260k miles) and I am doing some maintenance on it. All the engine mounts need replaced, passenger axle, valve adjustment, some new hoses here and there, etc.
also has the trans service light on.
The two codes are
P0500 - Vehicle Speed Sensor malfunction
P0700 - TCM fault

My thoughts are that the speed sensor is bad, which also through the TCM code? The guy she bought it from said it had the trans rebuilt about 2 years ago (some place in Illinois). And he said he doesn't know if the TCM has ever been updated by volvo. So I think that might also be the issue.

Anybody have this issue before?

Thanks!

 

Did a quick search and found this: P0700 Volvo Transmission Control System Malfunction OBDII Engine Light Trouble Code | Engine-Codes.com

- Shorted or open circuit within Transmission Control Module (TCM)
- Faulty Transmission Control Module (TCM)

Read more: P0700 Volvo Transmission Control System Malfunction OBDII Engine Light Trouble Code | Engine-Codes.com

Hope this helps a little