The automobile meaning of the engine P240C Code is P for Powertrain Code Problem is related engine, transmission and emissions systems. 2 for MFG – Manufacturer Specific. 4 for BBV Sensor Circuit Low Voltage. 0 for Low Coolant Circuit and C for Transmission. You have to follow the right way for solving the car engine problem. The P240C engine code looks a kind of powertrain problem what is easy to solve at the low cost. The lifters can be distorted by disengaging an inner locking pin. The locking pin is disengaged using solenoids to change oil compression fed into the lifter.