Action Taken When the DTC Sets

WARNING: This page is about a different car, the 2009 GMC Sierra, 2009 GMC Cab & Chassis Sierra, 2009 Chevrolet Silverado, and 2009 Chevrolet Cab & Chassis Silverado. However, it is still accessible from the selected car via links, so may be relevant.

DTCs P2723 and P2724 are Type A DTCs.
The TCM freezes transmission adaptive functions.
DTC P2723 defaults to Reverse, Park, Neutral, 5th, or 6th gear.
DTC P2724 defaults to Reverse, Park, Neutral, 1st, or 2nd gear.