Volvo Wagon 1995, 70K Non-Turbo, Automatic Tranny.
Sometimes a Yellow Arrow Flashes on and off on my dashboard. The car runs fine. The manual says I need to bring to a dealer. I have move the shifter back and forth a couple of times when this has happened; however, this does not clear it. But then the next morning it does not come on. Any suggestions. Do I need to be concerned?
Thanks

I get an occasional flashing arrow on my 95 850. I figured it was the PNP switch, but my OBD II code reader indicates that the problem is the throttle position sensor. Once I clear the codes, I don't get it again for a month or two. Bottom line: it may be something other than the PNP switch.

It *could* be the PNP switch, but you need to read the stored codes from the A-1 socket. A 3-1-3 codes strongly indicates a PNP problem.

Gerald C

The PNP switch often acts up when it is cold. I expect we
will see a few postings about this as the weather turns cooler.
Bay 13 has good notes on this issue:

http://volvospeed.com/bay13.htm

Note the failure mode is slow and you have time to get it fixed.
Eventually it will start to lock the car in third gear (limp home
mode) and acceleration will seem very slow. Reverse will still
work. Sometimes turning the ignition off and on once the car
warms up clears the limp home mode setting.

On our 1995 moving the gear selecter through the gears could
actually cause the light to start flashing. Eventually I
had to replace the PNP switch to fix the problem.

You can search on "PNP" below to get more posts on this.
There will be a lot of them.

Your transmission position (gear selector) switch needs to be replaced or "cleaned".
The flashing arrow tells the transmission computer that it does not know what gear you have selected (because the switch contacts are worn or dirty).
With the engine off run the gear selector from P to L in a rapid motion, back and forth about 20 times.

Any Idea where the swith is located?

PNP switch is on top of the transmission.
Major job to remove several components out of the way from the engine compartment to get to it, then you need a special tool to align it correctly.
About $250 job at the dealer, part included.
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'88 240, '92 740, '98 v70 GLT John in Tampa Bay