Transmission failure indication ON

Do you mean 2005 ? Didn't have five hundred in 2004 !
Speed Control The speed control system consists of the following components:

• speed control switches
• speed control deactivator switch
• speed control indicator
• powertrain control module (PCM)
• electronically controlled throttle body
• clockspring

The speed control system is controlled by the powertrain control module (PCM). The speed control system is designed to maintain a selected vehicle speed between 48 and 200 km/h (30 and 124 mph). The speed control system is controlled by the steering wheel mounted switches (ON, OFF, SET+, SET-, CANCEL, and RESUME), and the brake pedal. The steering wheel mounted switches are hardwired to the PCM.
The speed control functions include:

• turn the speed control system on
• set and maintain the desired vehicle speed
• accelerate the vehicle speed
• decelerate the vehicle speed
• resume the prior vehicle speed
• turn off the vehicle speed control system
• cancel the speed control
• Smart junction box (SJB) fuse 18 (10A
• Powertrain Control Module (PCM) Diagnostic Trouble Code (DTC) Index DTC Description Source Action P0579 Cruise Control Multifunction Input A Circuit Range/Performance PCM Go To Pinpoint Test C . P0581 Cruise Control Multifunction Circuit High PCM Go To Pinpoint Test C . P0720 Output Shaft Speed Circuit Fault PCM REFER to Section 307-01A or Section 307-01B . P0721 Output Shaft Speed Circuit Fault PCM REFER to Section 307-01A or Section 307-01B . P1500 Vehicle Speed Error PCM REFER to Section 307-01A or Section 307-01B . P1501 Vehicle Speed Error PCM REFER to Section 307-01A or Section 307-01B . P1572 Brake On/Off Failure PCM Go To Pinpoint Test B . P1703 Brake On/Off Failure PCM Go To Pinpoint Test B . Highly doubt a fuse problem . Take it to a qualified repair shop.

Follow the links for each fault code.
http://www.obd-codes.com/p0500
P0700 Transmission Control System Malfunction
P0720 Output Speed Sensor Circuit Malfunction
P0715 sets when there is an error in the transmission's input speed sensor signal. On the front of the trans there is an input and output speed sensor that the trans controller looks at for shifting control.

While the code could have set because of a wiring or connection problem, it's almost surely the sensor. Input speed sensor failures are not uncommon.

The input speed sensor is mounted right on the front of the trans directly under where the cooler lines attach. It threads directly in and has a 1" hex for a socket for removal. If the wiring and connection look visibly ok then I would recommend replacing the sensor

First off the cruise control is computer controlled , need to check for diagnostic trouble code's . Your vehicle has electronic throttle control also . If your don't have a factory or professional grade scan tool your odds of being able to fix this yourself is close to zero ! You could find a wiring diagram an do some voltage drop testing ,mite find lose connection .
Speed Control
The speed control system consists of the following components:

• Speed control switches
• Speed control deactivator switch
• Speed control indicator
• Powertrain control module (PCM)
• Electronically controlled throttle body
• Clockspring

The speed control system is controlled by the PCM. The speed control system is designed to maintain a selected vehicle speed between 48 and 200 km/h (30 and 124 mph). The speed control system is controlled by the steering wheel mounted switches (ON, OFF, SET+, SET-, CANCEL, and RESUME), and the brake pedal. The steering wheel mounted switches are hardwired to the PCM.
The speed control functions include:

• Turning the speed control system on.
• Setting and maintaining the desired vehicle speed.
• Accelerating the vehicle speed.
• Decelerating the vehicle speed.
• Resuming the prior vehicle speed.
• Turning the vehicle speed control system off.
• Canceling the speed control.

The clockspring provides the electrical interface between the steering column wiring and the speed control switches in the steering wheel.
The inputs to the PCM are:

• Output shaft speed (OSS) sensor
• Speed control switches
• Stoplamp switch
• Speed control deactivator switch
• SJB messages

The outputs of the PCM for the speed control system are:

• Speed control indicator lamp
• Throttle command

The throttle position is completely controlled by the PCM through the electronically controlled throttle body. Speed control electronics are contained entirely within the PCM.
When the speed control system is active, the PCM corrects for deviations in the actual vehicle speed by proportionally moving the throttle plate. The PCM modulates the throttle to minimize error between actual vehicle speed and the desired speed.
The PCM strategy uses the throttle control for smooth accelerations.
The PCM sends a serial message over the controller area network (CAN) to the instrument cluster whenever the speed control telltale should be turned on or off.
In the event of an OFF command or a deactivation request from the deactivator switch, the speed control system carries out a hard deactivation and immediately returns the throttle to the idle position.
In the event of a CANCEL command input, the system deactivates and the throttle returns to the idle position at a smooth and controlled rate.
The speed control system provides self-diagnostics. The speed control system is disabled anytime an error is detected in the system. No cluster telltale or message center messages are displayed when faults occur. Fault codes are logged by the PCM.
An electronic throttle control (ETC) system fault also causes the speed control system to be disabled. In this case, an ETC system warning indicator or message center message is displayed.
Additionally, the following conditions cause the speed control system to deactivate:

• Transmission gear selector is put into a position other than D or OD.
• Parking brake is applied.
• Speed control set speed is over-ridden with the accelerator pedal for a period longer than 5 minutes.
• Vehicle speed loss from set speed of greater than 16 km/h (10 mph) occurs.
• Vehicle speed falls below the minimum allowable limit of 48 km/h (30 mph).
• Speed control switch is pressed or stuck longer than 2 minutes.
• Powertrain Control Module (PCM) Diagnostic Trouble Code (DTC) Index DTC Description Action P0579 Cruise Control Multifunction Input A Circuit Range/Performance Go To Pinpoint Test C . P0581 Cruise Control Multifunction Circuit High Go To Pinpoint Test C . P0720 Output Speed Sensor Circuit REFER to the Powertrain Control/Emissions Diagnosis (PC/ED) manual. P0721 Output Speed Sensor Circuit Range/Performance REFER to the Powertrain Control/Emissions Diagnosis (PC/ED) manual. P1500 Vehicle Speed Error REFER to Section 307-01A or Section 307-01B . P1501 Vehicle Speed Error REFER to Section 307-01A or Section 307-01B . P1703 Brake On/Off Failure Go To Pinpoint Test B .
  
  
  Transmission Control Module (TCM) Diagnostic Trouble Code (DTC) Index DTC Description Action P0720 Output Speed Sensor Circuit REFER to Section 307-01A . P0721 Output Speed Sensor Circuit Range/Performance REFER to Section 307-01A .

Hi I'm Peter your code P0720 Output Speed Sensor Circuit Malfunction This diagnostic trouble code (DTC) is a generic OBD-II powertrain code. It is considered generic because it applies to all makes and models of vehicles (1996-newer), although specific repair steps may vary depending on the model.
On electronically controlled transmissions, the Output Shaft Speed Sensor (OSS) is located on the end of the transmission before the drive axles or driveshaft to read the speed of the output shaft which may be used to determine shift scheduling, torque converter engagement schedule and Electronic Pressure Control (EPC) inside the transmission. The Powertrain control module / Engine control module (PCM/ECM) has determined there is a malfunction with the OSS sensor. The PCM/ECM may substitute values based on other sensors to determine shift timing, torque converter operation and EPC pressure if the OSS sensor information is unavailable. The OSS sensor is also commonly used for the speedometer. Note: On some vehicles, the OSS sensor is inline with the Transmission Fluid Temperature (TFT) sensor, if there is a failure with the TFT sensor or associated wiring, the OSS sensor may malfunction as well. If there is another code associated with the TFT sensor as well as the OSS sensor, suspect a possible problem with either sensor, or the wiring in between

PO 302-- misfire on cylinder #2

PO160- O2 Sensor (Bank 2 Sensor 2)
The rear O2 sensor is a converter monitor
and don't do much or fail often,but yours
may have. More of an indication your exhaust
converter is failing,if sensor tests okey

PO720- is a Tranmission Output Speed Sensor

I would find the & solve the ignition misfire issue first.

Then replace both front O2 Sensors, if you have two &
they have never been done or have 100,000 miles on them

Next scope the rear sensors to see if they even work,as you have a code

All Automatic Transmissions and Power Steering MUST have
their fulids changed EVERY 30,000 miles or you Will have failure

Your trans code will need to be diagnosed after the other issues
are resolved if it is still there.

p0720 is usually a speed sensor. Newer BMWs have a speed sensor at each wheel, which also sends information to your traction control. If one of the sensors is giving a wrong reading, the vehicle thinks you are losing traction and it cuts power.
If you need further assistance, please let me know. I will need your vehicle year and model.

code p 0500 is for the vehicle speed sensor (VSS) which works the speedo as well as the ratio changes
code p0720 refers to the output shaft sensor --ECM or transmission control module (TCM)
the vss reports to the tcm which reads the road speed and gear ratio and shifts the appropriate solenoid

the flashing O/D light usually means you have a bad speed sensor that sends speed info to the engine & trans computer.

Vehicle Speed Sensor The vehicle speed sensor (VSS) (Figure 42) is a variable reluctance or Hall-effect sensor that generates a waveform with a frequency that is proportional to the speed of the vehicle. If the vehicle is moving at a relatively low velocity, the sensor produces a signal with a low frequency. As the vehicle velocity increases, the sensor generates a signal with a higher frequency. The PCM uses the frequency signal generated by the VSS (and other inputs) to control such parameters as fuel injection, ignition control, transmission/transaxle shift scheduling and torque converter clutch scheduling.
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Vehicle Speed Sensor The vehicle speed sensor (VSS) (Figure 42) is a variable reluctance or Hall-effect sensor that generates a waveform with a frequency that is proportional to the speed of the vehicle. If the vehicle is moving at a relatively low velocity, the sensor produces a signal with a low frequency. As the vehicle velocity increases, the sensor generates a signal with a higher frequency. The PCM uses the frequency signal generated by the VSS (and other inputs) to control such parameters as fuel injection, ignition control, transmission/transaxle shift scheduling and torque converter clutch scheduling.

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Some trans use an OSS, Output Shaft Sensor instead of a VSS. Depends on which trans you have, 4R100 or 4R70W

Transmission Control Switch (TCS) and Transmission Control Indicator Lamp (TCIL)
The transmission control switch (TCS) is a momentary contact switch. When the switch is pressed, a signal is sent to the powertrain control module (PCM) to allow automatic shifts from first through fourth gears or first through third gears only. The PCM energizes the transmission control indicator lamp (TCIL) when the switch is off.

The TCIL indicates overdrive cancel mode activated (lamp on) and electronic pressure control (EPC) circuit shorted (lamp flashing) or monitored sensor failure.

Output Shaft Speed (OSS) Sensor
The output shaft speed (OSS) sensor is a magnetic pickup, located at the output shaft ring gear, that sends a signal to the powertrain control module (PCM) to indicate transmission output shaft speed. The OSS is used for torque converter clutch control, shift scheduling and to determine electronic pressure control.

not an oxygen sensor



vehicle speed sensor or oss is most likely cause.


Output Shaft Speed Sensor (OSS) 7H103: The output shaft speed (OSS) sensor is a magnetic pickup, located at the output shaft ring gear that sends a signal to the powertrain control module to indicate transmission output shaft speed. The powertrain control module uses this signal for torque converter clutch control, shift scheduling, used in determining EPC pressure. Symptoms: No converter engagements, harsh shifts, abnormal shift schedules. DTC: P0720, P0721


Vehicle Speed Sensor (VSS) 9E731: The vehicle speed sensor is a magnetic pickup that sends a signal to the powertrain control module. This VSS signal tells the PCM vehicle speed. The PCM uses this signal to modify upshift schedules. Symptoms: Shift engagement/disengagement (hunting) on grades. DTC: P0500, P0503, P1500, P1501, P1503

Your codes are as follows:

U1262 communications bus fault
P0500 Vehicle Speed Sensor Malfunction
P0720 Output Speed Sensor Circuit Malfunction

What, if any, symptoms is your vehicle showing?

If your Vehicle Spped Sensor has gone bad, it can cause loss of anti-lock brakes, "anti-lock" or "brake" warning lamps on the dash, the speedometer or odometer may not work properly (or at all), your vehicle's RPM limiter may be decreased or automatic transmission shifting to be erratic.