One problem related to automatic transmission has been reported for the 2001 Volvo C70. The most recently reported issues are listed below. Please also check out the statistics and reliability analysis of the 2001 Volvo C70 based on all problems reported for the 2001 C70.
I purchased a 2001 Volvo C70 convertible used with ~ 73,000 miles in 2006. It now has 93,000 miles. Last summer I had to replace the radiator because it cracked. On the evening of Tuesday, December 22 while returning home on the beltway, I began to smell something and an up arrow indicating I should shift gear lit on the dashboard panel. I learned two days later, I needed to replace the transmission. Now I understand there is a fuel pump recall. This seems like a lot of major repair work in a fairly young vehicle with so few miles, and regular oil changes at every 3,000 miles and annual checkups.