One problem related to automatic transmission control module has been reported for the 2001 Volvo S80. The most recently reported issues are listed below. Please also check out the statistics and reliability analysis of the 2001 Volvo S80 based on all problems reported for the 2001 S80.
While driving on an interstate highway at 65-70 mph, my 2001 Volvo S80 t6 displayed a message indicating "reduced power". I was able to steer the car, but pushing the accelerator pedal had no effect. I was forced to maneuver to the shoulder and have the car towed to my local dealer. The car would start and continue to run, but the car would not "go". It was as if the accelerator pedal had been disconnected. This was actually the second time that this has happened to this car. The first occurred a mere 20 months earlier. The Volvo mechanic indicated - during both incidents - that the electronic throttle control module had failed and would need to be replaced. My car was not under warranty either time - had just exceeded warranty mileage when the first incident happened. In addition to being put into a dangerous situation on a crowded interstates highway, I was forced to pay more than $1000 to have the part replaced each time.