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automatic punto gearbox failure keeps flashing up?

I have a punto 05 auto, I have amessage which keeps flashing at me saying 'gearbox failure'. Everthing seems ok, the only thing I noticed is that the steering seems lighter. Any advice what it could be, could it be expensive.
fred, May 2010
get codes read. May be speed sensor fault to affect steering as well.

mags, May 2010
link Click here to see other fixes for Fiat Punto.