I just got a 1988 626 turbo with auto tranny. This particular one has the hold option with econ/power switch option. It will not shift into 3rd gear. It just goes to second shifts and then goes into nuetral and revs. It also smokes really bad if you drive it for more than 5 minutes. It smells like its burning the trans fluid. When shifting from 1-2 it does slip a little.

Any suggestions?