Three problems related to transmission not engage have been reported for the 2001 Volvo V70. The most recently reported issues are listed below. Please also check out the statistics and reliability analysis of the 2001 Volvo V70 based on all problems reported for the 2001 V70.
Transmission disengages at low rpm (at about 20mph) with slight pressure on the accelerator pedal - feels like the car wants to upshift to the next higher gear (possibly 2nd gear), transmission then disengages. . . The engine rpms surge to 3,000-4,000 and then the transmission engages with a huge clunk and surges forward. When coming to a stop without any gas pedal pressure, transmission does not disengage, but seems to shift into the lowest gear and surges forward while trying to stop the car at a traffic light or stop sign. Again, there is no pressure on the gas, the car automatically downshift making a loud clunk and then the engine surges and pulls the car forward. After a few seconds of the car trying to pull forward with the brakes applied, the transmission disengages the gear and returns to a "neutral" setting while the car is stopped. Transmission disengagement and engine surging are consistent whether the car is hot or cold and the pattern is consistent - always at low rpms when the car's automatic transmission either wants to shift up or down in gears. It seems like the issue is always between 1st and 2nd gears. At highway speeds the car seems fine.
Transmission disengages at low rpm (at about 20mph) with slight pressure on the accelerator pedal - feels like the car wants to upshift to the next higher gear (possibly 2nd gear), transmission then disengages. . . The engine rpms surge to 3,000-4,000 and then the transmission engages with a huge clunk and surges forward. When coming to a stop without any gas pedal pressure, transmission does not disengage, but seems to shift into the lowest gear and surges forward while trying to stop the car at a traffic light or stop sign. Again, there is no pressure on the gas, the car automatically downshift making a loud clunk and then the engine surges and pulls the car forward. After a few seconds of the car trying to pull forward with the brakes applied, the transmission disengages the gear and returns to a "neutral" setting while the car is stopped. Transmission disengagement and engine surging are consistent whether the car is hot or cold and the pattern is consistent - always at low rpms when the car's automatic transmission either wants to shift up or down in gears. It seems like the issue is always between 1st and 2nd gears. At highway speeds the car seems fine.
I had just purchased my 2001 Volvo V70 used from a reputable dealer when my wife noticed that the transmission would occasionally "slip" in and out of gear. I did not drive the car very often, so I did not experience the problem for another month or so. When you take you foot off the gas to coast or slow down for a turn the transmission completely disengages. When you push on the gas expecting to continue to keep going the engine revs - because there is no transmission engaged- and then suddenly "slams' back into gear. This condition has been with us now for several years. The car has been to the Volvo shop twice and they claimed there were no codes showing up on their test equipment. . . And by the way that'll be another $300! I've learned to baby the car, and drive with this dangerous condition because I know a new transmission for this car would cost more than the car is worth. After checking with edmuds, I have come to realize there are dozens if not hundreds of people out there with the exact same problem as mine, and Volvo appears to either be clueless, or not willing to do anything about it. My car has been acting this way since I purchased it with only 70,000 miles.