1997 Volvo 960 960 with blinking arrow and trans modes

1997 VOLVO 960
158,000 MILES • 6 CYL • 2WD • AUTOMATIC
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ALTREGO
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So I have a 960 wagon that drives great. However the CEL is on and the up arrow is blinking as well as the lights cycling through the transmission modes (W/S/E). I replaced the gear selection sensor (PNP switch) and reset everything and didn't get a mile before the light came back on.

The car shifts file and has bright red fluid. The code that is returned on the OBDII is P0740.

Any help is much appreciated as emission are due in a week.

Thanks
Jun 5, 2008 at 9:52 AM
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BANKS358
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is it stuck in winter mode? if so u need to replace a wire it costs like $150 it connects to the transfer case, its called like a gear pisiton sensor
Jul 30, 2008 at 6:58 PM