I had this years ago once on my C70 T5. I was commuting to/from London in it daily, there was no difference to operation or running but, when I got it to the local Volvo indy with Vida etc, it was a relatively cheap ish sensor (£60 IIRC) that goes onto the gearbox.
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2000 C70 T5 GT Coupe
1998 S70 R / 1995 Toyota Supra Twin Turbo
2007 Mercedes CLS 320 CDI / 2011 Mercedes S350 Bluetec
2007 Suzuki GSXR-1000
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