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Though all I know about the automatic shift lock is that it was added to automatic 240 transmissions in 1991, I would guess that it has become stuck and is therefore what is preventing your car from shifting out of park. It happened to my mom's S40 a while back.
I can't say I would have thought to reach *inside* the shifter mechanism. I mean, reading the manual is good advice, but normally an automatic shift lock switch is obvious. My mom's was clearly labeled with white text with the button easily visible in front of the shifter.
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