One problem related to transmission failure has been reported for the 2008 Chevrolet Cobalt. The most recently reported issues are listed below. Please also check out the statistics and reliability analysis of the 2008 Chevrolet Cobalt based on all problems reported for the 2008 Cobalt.
Transmission module failure leads to temporary power steering failure. While driving my 2008 chevy Cobalt, the instrument cluster started malfunctioning. The speedometer, tachometer, and fuel gauge all started bouncing around erratically. The driver information center started flashing "power steering". This all took place while I was driving the car on the freeway ay about 60 mph. As I was trying to pull to the breakdown lane the power steering failed. I thought the power steering pump went out. After getting the car to the side of the road and turning it off I called my mechanic. He told me he heard of this before and told me to restart the car. I did and everything was back to normal. I drove straight to his shop where he plugged in his diagnostic check computer. He told me the problem was with the transmission module and is a well know problem with the chevy Cobalt. I have since googled it and found many Cobalt owners are experiencing the same problem. I spoke to Chevrolet customer service and was told that because my car has 125,000 miles it is out of warranty and not covered. I don't care so much about that as the potential safety hazard. If the power steering fails while on the road again it could lead to an accident. It has happened twice since and I have managed to pull over before the steering shut down. Is this an issue you could look into on these cars?.