The light is on because the engine had Low oil pressure. Caused by low oil level, or defective oil pump. Check the oil level and if it is full seek professional help. Do not drive this car with low oil pressure or you will destroy the engine. If it has gotten hot then you have already done some damage.
your car is over heating
The wheels have lost traction
That typically means that the alternator is not functioning.
Check the oil level in the car.
usually means your car is due for a service.
if the transaxle light comes on in the car can you still drive it
the light from a car comes from a bulb.
If you mean the brake light in your dashboard, it means that you have your emergency break on while the car is on.
the battery light means that your battery is being charged properly. so let it light.
its a rear bulb failure indicator if it comes on when brake is first depressed it is a brake light bulb if it is on when you start the car it is a ride light or park light
If a red oil light comes on in a car, it means the vehicle is low on oil. It could also mean that the oil pump is not working.
It means you have the traction control turned off or the TC is engaging.