transmission slipping on 2001 Ford Taurus

after driving 200 miles on the freeway the trans lite flashed on then it started smoking and smelt like fluid burning. i got off the freeway and the transmission started sticking, or slipping, I made it a few blocks to park at the gas station. Transmission fluid was everywhere, I had my car towed about 30 miles to my home. It wont go in reverse at all, it has gone forward a foot or so.

by in Sacramento, CA on June 06, 2011
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3 answers
ANSWER by , June 06, 2011
internal failure. it must be removed and re built. very pricy. Roy
ANSWER by , June 06, 2011
It sounds like the transmission has failed, removing the transmission pan, checking for debris, and changing the fluid and filter may be a good place to start but its more likely the transmission has failed. It would be beneficial to plug in a scan tool and retrieve the codes stored in the computer in your car to see where the problem is.
ANSWER by , June 07, 2011
When you find metal shavings (debris) in your transmission oil pan, that is a sure sign that something is wrong internally. You may have broken parts or badly worn parts. A transmission fluid change will not fix your problem. Since you mentioned fluid all over the place....Your transmission (in any condition) will not run properly or at all if the fluid is too low. For maximum performance it is important to change automatic transmission fluid every two years or 24,000 miles (for most vehicles). The fluid level should be checked with the engine running and the transmission in park.