One problem related to transmission gear indicator has been reported for the 2003 Lincoln LS. The most recently reported issues are listed below. Please also check out the statistics and reliability analysis of the 2003 Lincoln LS based on all problems reported for the 2003 LS.
Cel came on, code indicated transmission issue. "e" appeared in the gear indicator, rather than the gear the transmission was in. Trans would not shift into 2nd and 5th of gears. Had the car towed to transmission shop, who told me the problem was a bad transmission case that had been destroyed as the result of servo impact over time. A bushing could have resolved the problem, had Lincoln installed one at manufacture. Tech told me this was a known problem with the Lincoln 5r55 transmission. Shop installed new transmission, with bushing, for $3700. No way a modern trans should fail at 113k miles, esp. From something like this, so easily preventable. Lincoln purchasers, who pay a premium for the advertised quality of a Lincoln, expect and deserve better, especially since a substantial number of Lincoln purchasers have experienced the exact same problem, and have had to bear the cost of the transmission replacement necessitated by Lincoln's manufacture and placement in the stream of commerce of a proven defective product. Lincoln should bear some of the cost, but has refused to do so.