Action Taken When the DTC Sets

WARNING: This page is about a different car, the 2003 GMC Sonoma, 2003 GMC Jimmy, 2003 Chevrolet S10 Pickup, and 2003 Chevrolet Blazer. However, it is still accessible from the selected car via links, so may be relevant.

The PCM illuminates the malfunction indicator lamp (MIL).
The PCM commands third gear only.
The PCM commands maximum line pressure.
The PCM inhibits TCC engagement.
The PCM freezes transmission adapt functions.
The PCM records the operating conditions when the Conditions for Setting the DTC are met. The PCM stores this information as Freeze Frame and Failure Records.
The PCM stores DTC P0758 in PCM history.