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One is for oil pressure. The other is for the alternator. And if THAT light comes on, for God's sake get to the side of the road and shut the engine off NOW!!! The cooling fan for your engine is bolted to the end of the alternator shaft, and the most common reason that light comes on is that your fan belt broke. No belt = no cooling = no engine.

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Q: What are the red warning lights for on a 1973 beetle?
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