One problem related to transmission failure has been reported for the 2001 Mercury Cougar. The most recently reported issues are listed below. Please also check out the statistics and reliability analysis of the 2001 Mercury Cougar based on all problems reported for the 2001 Cougar.
Bought car brand new in September 2001. Automatic transmission needs replacement at 43,000 miles (June 2005). No recourse as warranty only covered me for 3 years/36,000 miles. This is too soon for a transmission to fail. Although the car is automatic, I could feel the car lose power as it shifted automatically from 1st gear into 2nd gear. Took the card to Ford dealer who told me it would cost $3,000 to fix. I am appalled!.