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The TCM-0048 code in a 2000 Volvo S70 indicates a fault in the Transmission Control Module (TCM) due to potentially faulty software. This can lead to erratic shifting, poor performance, or even transmission failure. To resolve this issue, it's recommended to update the TCM software or replace the module if necessary. Consulting a professional mechanic or a Volvo specialist is advisable for accurate diagnosis and repair.

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