Volvo Repair: 1992 Volvo 240 Auto Transmission, 1992 volvo 240, volvo 240

Question
I have 179K on a 1992 Volvo 240 Automatic Sedan.

Today the trans wont shift into 3rd gear.. stays in second... can't go over 45 mph.... or car loses power...sport mode IS NOT ENGAGED...repeat NOT ENGAGED..... engine revs great.... but no power to transmission

Thanks very much

Answer
I am not sure what sport mode is on this car. the 240 does not have an electronic transmission with this type of ability to switch modes.it sounds like there is a problem inside the transmission.which will require it to be rebuilt or replaced.we do not rebuild them at the dealer we install rebuilt units from volvo.so you may try a transmission shop to see if they can rebuild it