Just when I think everything is fixed at least for a few months I get a new problem! I was driving pretty fast ( okay 145 ) and suddenly My car hits the rev limiter and drops to about 80. A light comes on and says transmission service urgent and it's locked into 3rd gear, I cant pull out in heavy traffic and I cant get home in time. I started it up after a quick stop and the transmission is acting fine but the light is still on. Any ideas?

 

Instead of taking time writing on here, you should have the car at the mechanic. Don't drive it. It's probably a solenoid of sorts but you never know. If you insist in not taking it in, then have the code read.

 

Step 1. Don't do 145 in your Volvo.

 

I've read about other problems like this and I don't think it has anything to with my speed, I think it's the PNP switch. Other people have had this problem but when they replace the s1/s2 solenoid the problem recurred, and a new transmission was recommended. Replacing the PNP seems to rectify the problem.