Flashing arrow dash light seems related to transmission issues

The flashing "Hold" light in a 2001 Ford Laser automatic transmission indicates a potential issue with the transmission. It's a warning sign that there may be a problem that needs attention. Here are some possible reasons for the flashing "Hold" light and steps to take:

1. Transmission Overheating: The flashing "Hold" light can be triggered by the transmission overheating. This can happen if you've been driving in heavy traffic or in hot weather. If this is the case, you can try the following steps:
   • Pull over to a safe location.
   • Shift the transmission to "P" (Park).
   • Allow the engine to idle for a few minutes to cool down the transmission.
   • Turn off the engine and wait for a moment.
   • Start the engine again and see if the "Hold" light remains off. If it does, it was likely caused by overheating.
2. Transmission Fault: If the "Hold" light continues to flash even after restarting the engine, there may be a more serious issue with the transmission. In this case, it's advisable to have the vehicle inspected by a qualified mechanic or a transmission specialist. They can diagnose the problem and recommend the necessary repairs.
3. Transmission Fluid Level: Check the transmission fluid level as low fluid levels can sometimes trigger warning lights. Consult your vehicle's owner's manual for instructions on how to check the transmission fluid level. If it's low, top it up with the recommended transmission fluid.
4. Transmission Sensor or Solenoid: The flashing "Hold" light can also be related to sensors or solenoids in the transmission that may be malfunctioning. A diagnostic scan of the vehicle's computer system can identify any error codes related to the transmission, helping pinpoint the issue.

It's important not to ignore a flashing "Hold" light, as transmission problems can worsen if not addressed promptly. Continuing to drive with a malfunctioning transmission can lead to further damage and potentially costly repairs. Therefore, it's recommended to have the vehicle inspected by a professional to determine the cause of the issue and take appropriate action.

For Automatic transmission problem,click the link below:---- Automatic transmission troubleshooting:----

http://howtobyme.blogspot.com/2011/11/automatic-transmission-will-not-go-into.html

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Automatic transmission shift lever issues?-------

http://technoanswers.blogspot.com/2012/01/automatic-transmission-shift-lever-hard.html

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AUTOMATIC TRANSMISSION FLUID LEVEL? --

http://schematicsdiagram.blogspot.com/2011/07/how-to-check-automatic-transmission.html

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AUTOMATIC TRANSMISSION FLUID AND FILTER?

http://schematicsdiagram.blogspot.com/2011/07/how-to-change-automatic-transmission.html

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Transmission fault light on car dash?

http://schematicsdiagram.blogspot.com/2011/12/transmission-fault-light-on-car-dash.html

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Transmission shifting problem?

http://schematicsdiagram.blogspot.com/2012/01/transmission-shifting-problem-on-toyota.html

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Transmission Slips out of 2nd gear?

http://repairhelpcenter.blogspot.in/2012/02/transmission-slips-out-of-2nd-gear.html

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OD light flashing and transmission fluid leaking?

http://repairhelpcenter.blogspot.in/2012/02/od-light-flashing-and-transmission.html

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Why Transmission fluid leaks near radiator?

http://repairhelpcenter.blogspot.in/2012/02/transmission-fluid-leaks-near-radiator.html

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Transmission fluid leaking?

http://technoanswers.blogspot.in/2012/02/ford-windstar-transmission-fluid.html

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****** wont go in reverse?

http://technoanswers.blogspot.in/2012/02/dodge-neon-wont-go-in-reverse.html

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Automatic transmission will not go into reverse?

http://technoanswers.blogspot.in/2012/02/dodge-automatic-transmission-will-not.html

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Transmission is making buzzing noise?

http://technoanswers.blogspot.in/2012/02/transmission-is-making-buzzing-noise.html

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This will help.

Thanks.

If the arrow light on the dash flashes, this means your flasher and multifunction switch are working, and your bulb, wiring to the bulb terminal, or bulb terminal are defective.

If the arrow light on the dash does not turn on, you will need a new multifunction switch(on the steering column, near the steering wheel)

If the arrow light on the dash comes on, but stays solid, you need a new flasher unit.

I’m happy to help further over the phone at https://www.6ya.com/expert/jeremy_69f3cc28d95bf514

i got the same car as urs. its seems to me that its the classic problems that you have. To slove them. Dont go to a dealer, coz they ll rip u off. Now, check on DIY guide for uninstalling ABS moudle. Go to ebay, find urself a ABS Moudle rebuild. 60-80bugs. put it back on. It ll slove ur limb home mode, speed meter drop to 0 when driving. flashing arrow. Contact volvo, buy urself a new ignition antena ring, 50bugs. and once again. look for DIY guide for installation. I replace both of them myself for less than an hour. u might need to buy some special torx for abs moudle tho. but it wont be a big deal. Hope it helps you.

The lights indicate a problem with the transmission. The fact that the engine wont start, leads me to believe that the PNP (neutral safety switch) is the problem. You will have to have the vehicle scanned to make sure.

Try shifting the shifter when this happens to see if it is related to the PRNDL in the transmission; you of course will have to have the key in on possition to attempt this. If this doesn't work, you will need to take it to a quaified mechanic since there are serveral test that will be needed to be find this issue, but let me assure you that the security light comes on and blinks often when starting the vehicle.

You'd have to get the car on a scanner to check for transmission codes, sounds like the light is flashing a trouble code... Where you don't see any driveability issues it is probably something stupid like a sensor or a chafed wire

Sounds like a bad ABS control module is at least part of your problem. The symptoms are usually and ABS and TRACS light intermittent or constand and eventually your speedometer works intermittently or totally quits. This guy rebuilds/upgrades them for about $140. New ones run over $800. http://home.earthlink.net/~vicrocha/Volvo_Parts/Volvo_ABS_removal.htm

sounds like a "bad sensor", goe to advance ,auto zone,kelly, and have them do a "free" code test", and see if it is a code error, if it is, you or someone might have Changed the Battery lately, if so disconnect battery for atleast half an hour, if this does not fix light, try draining trannsmission and replace filter,and fluid, this should correct any {mech} problems,let me know, god bless

Most likely the transmission range switch is failing.
Have someone check the transmission computer for codes.