Volvo Repair: Volvo S 70, volvo s 70, transmission control module

Question
2000 Volvo S70-AWDrive, automatic, 175,000 miles.
When up shifting and down shifting to the last gear around 40 mph, I hear a clunk as it hits the gear. Been doing this for about a year. What is it? Is this one of those Volvo anomolies?  

Answer
It sounds like the transmission is acting up.  There is one of two things going on.  The transmission control module may be having trouble adapting to the wear of internal components.  There has been an updated software for the TCM in that car to help with a hard 2-3 shift.  You can try getting that reprogramming done at the dealer first because if that doesn't help your problem at all, you will most likely need a new transmission.  If that is the case though I do not recommend getting yours rebuilt because I have never seen one rebuilt to like new specs.  Usually it has some sort of problem.

James