Do you mean the transmission is slipping like it's going into neutral? Not sure how a sensor can cause that. That's typical of worn clutch plates, leaking internal seals, a plugged filter, or low fluid level. The place to start is by checking the fluid level and smelling the fluid on the dipstick to see if it's burned or has been overheated. Next would be a trip to a transmission specialty shop for a diagnosis.
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Sunday, October 9th, 2011 AT 6:53 PM