Volvo V70 transmission issue.

whyhi12

Help! I bought a used Volvo 2004 V70. It now has 144K miles and I'm being told I need a new transmission. It has gone into limp mode but they reset it and it seemed to drive ok. The code is TCM 0001. They said it's not just the valve body so I'll need a new transmission. Does that code mean it's def the transmission? Is it worth getting a 3rd opinion? The 1st (indie Volvo) mechanic just read the code. The 2nd drove it, read code, etc. Also can I drive it to the other mechanic? It's about a 30 min drive. They're telling me I shouldn't even if reset and drives ok. It could go into limp mode again.

zippy99

There are some complaints about the automatic transmission in your car but no solution to the problem.
https://www.carcomplaints.com/Volvo/V70/2004/transmission/power_train-automatic_transmission.shtml