One problem related to transmission gear slipping has been reported for the 2001 Volvo S60. The most recently reported issues are listed below. Please also check out the statistics and reliability analysis of the 2001 Volvo S60 based on all problems reported for the 2001 S60.
2001volvo S60 turbo - transmission slipping; having problems changing gears; either it is straining to change gears or I hear and feel a loud (clunck). Problem happens a lot in stop and go traffic. Dealer says I need to replace the transmission at a cost of $4000. Read other forums and other Volvo owners are having the same problems.