When your vehicle displays the fault code P0500 on the OBD2 tool, it indicates an issue with the vehicle speed sensor. This sensor is responsible for reading the vehicle's speed and transmitting that information to the speedometer for display. The speed sensor is monitored by the engine control unit (ECU), and if the check reveals a malfunction or no signal from the sensor, the ECU records the P0500 code. Subsequently, the Check Engine light is triggered to alert you to this issue.
This OBD identification code is standard across most car brands, including Kia, Ford, Renault, Nissan, Skoda, Toyota, BMW, VW, and others.