The PCM has flagged a traction control system issue.
Informational only. Consult a qualified mechanic.
Scan for additional codes. Fix engine codes first.
The C0242 OBD-II diagnostic trouble code (DTC) indicates: pcm indicated traction control malfunction. This is a medium-severity chassis code that your vehicle's onboard diagnostics system triggers when the pcm has flagged a traction control system issue. If your check engine light is on with this code, the vehicle is generally safe to drive, but you should have it inspected soon.
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