It could be a wheel speed sensor. I have the same thing going on with my car. Each wheel has a sensor and if one goes bad then your traction control will not work. To find out what one it is you must check each sensor. I suggest buying a new one on ebay for around $50 then go from there
this has just happened to my 330 and it happened soon after i had my bottom arms fitted got my steering wheel as gone to the left got told this could ov made the lights stay on will no monday when i get the tracking done
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