Hello, I hope that somebody has had this same problem (with a solution), because it's just the kind of thing that can result in replacement of all sorts of good parts. The problem is with my '99 V70XC. Fairly often, in fact way too often, the following occurs: The ABS light and the Brake failure lights come on. A short while later the speedometer goes to zero and the odometer and tripcounters display dashes. Sometimes, in addition to the ABS and brake lights, and at other times instead of those, the transmission arrow starts flashing. The car appears to be driving on normally when this occurs, although sometimes the wrong gear gets selected. This is especially apparent when this situation occurs when you are stopped for a traffic light: when the light turns green the car does not accellerate properly, as it's in way too high a gear. Usually the problem clears up in the opposite way: first the speedometer and odometer come back, then the lights go off. The transmission arrow keeps flashing the longest, typically.
When I brought the car in for the 144,000 km service, the problem did (of course) not show up at all, but they said they found a speedsensor failure error code.
All comments appreciated! Thanks!
Rob M