The HOLD light in your 2001 Mitsubishi Montero Sport indicates that the transmission is in "hold" mode. This mode locks the transmission in the current gear, preventing it from shifting up or down. This can be useful when driving in slippery conditions or when towing a heavy load.
To deactivate the HOLD mode, simply press the HOLD button on the center console. The light will turn off and the transmission will return to normal operation.
