Ford Repair Questions? Ask a Mechanic for Answers ASAP
This is most likely a faulty VSS(vehicle speed sensor), or related to it, as it will set both the Check engine light and ABS light, and will cause speedometer problem and erratic shifting
I do strongly suggest having the on-board computer read for fault codes before replacing any parts. Most major auto parts stores, such as Autozone, will do this for free.
If the code is for the VSS, below is how to test VSS to confirm it is bad and not a wiring harness problem:
It is located in the left rear of the transmission at the tailshaft housing:
Fig. Fig. 2 Detach the connector for the VSS sensor
Fig. Fig. 3 Remove the retaining bolt for the VSS sensor and ...
Fig. Fig. 4 ... remove the VSS sensor from the transmission
Fig. Fig. 5 Pry the retainer for the VSS gear off and ...
Fig. Fig. 6 ... remove the gear from the VSS