Well, a quick look at the spec sheet for the P5 turns up this
*Premium motor-driven Alps potentiometer volume control
So, I might be the first person in quite a while to prove TLS was wrong
Just some friendly joshing on TLS because I am certain that he is not wrong very often
My $ says that the volume pot is dirty and needs a good cleaning. Should be a quick-fix and have the P5 back shortly.
Remind us, you did buy this as a used or demo or something right?