What does the flashing hold light mean

Hello, The flashing "Hold" light indicates there is something wrong with the transmission system. Best of luck! CarGrrl

For our 626's, it means that the electronic transmission controls are no longer being used to control the transmission. Most likely due to overheating or a problem with the speed sensor. On my 626 I can often stop it by shifting into nuetral while driving, turning the car off (while in motion) and then turning it back on. I have also heard that disconnecting the battery cable(when the car is parked ;) ) and holding in the brake petal for 30 seconds can help.