A power tool comprising: a housing; a motor supported in the housing; a multi-stage transmission operably coupled to the motor to receive torque from the motor; an output shaft rotatable about a central axis and operably coupled to the transmission to receive torque from the transmission; a clutch mechanism coupled to the transmission and operable in a first mode, in which torque from the motor is transferred to the output shaft through the transmission, and operable in a second mode, in which torque from the motor is diverted from the output shaft, a shift mechanism coupled to the transmission and operable to disable at least one stage (338, 342, 346) of the transmission; and a mode selector ring coupled to the shift mechanism to actuate the shift mechanism in response to rotation of the mode selector ring, wherein the clutch mechanism includes a resilient member, and wherein, in response to rotation of the mode selector ring, the resilient member is compressible to increase the amount of torque transferred to the output shaft during the first mode of operation of the clutch mechanism; and wherein the multi-stage transmission includes a first stage transmission (338, 346) and a second stage transmission, and wherein the mode selector ring is rotatable between a first position, in which the first and second stage transmissions are both enabled, and a second position, in which the second stage transmission is disabled; and wherein the first stage transmission (338, 346) is a first stage planetary transmission having a carrier, wherein the second stage transmission is a second stage planetary transmission having an outer ring gear, and wherein the outer ring gear is coupled for co-rotation with the carrier when the shift mechanism is in the second position; and wherein the shift mechanism includes a sleeve coupled for co-rotation with the mode selector ring, the sleeve including a circumferential slot, at least a portion of the circumferential slot includes an axial component, and a wire having first and second ends, wherein at least a portion of the wire between the first and second ends is received in a circumferential groove in the outer ring gear, and wherein the first end of the wire is disposed in the circumferential slot. a housing; a motor supported in the housing; a multi-stage transmission operably coupled to the motor to receive torque from the motor; an output shaft rotatable about a central axis and operably coupled to the transmission to receive torque from the transmission; a clutch mechanism coupled to the transmission and operable in a first mode, in which torque from the motor is transferred to the output shaft through the transmission, and operable in a second mode, in which torque from the motor is diverted from the output shaft, a shift mechanism coupled to the transmission and operable to disable at least one stage (338, 342, 346) of the transmission; and a mode selector ring coupled to the shift mechanism to actuate the shift mechanism in response to rotation of the mode selector ring, wherein the clutch mechanism includes a resilient member, and wherein, in response to rotation of the mode selector ring, the resilient member is compressible to increase the amount of torque transferred to the output shaft during the first mode of operation of the clutch mechanism; and wherein the multi-stage transmission includes a first stage transmission (338, 346) and a second stage transmission, and wherein the mode selector ring is rotatable between a first position, in which the first and second stage transmissions are both enabled, and a second position, in which the second stage transmission is disabled; and wherein the first stage transmission (338, 346) is a first stage planetary transmission having a carrier, wherein the second stage transmission is a second stage planetary transmission having an outer ring gear, and wherein the outer ring gear is coupled for co-rotation with the carrier when the shift mechanism is in the second position; and wherein the shift mechanism includes a sleeve coupled for co-rotation with the mode selector ring, the sleeve including a circumferential slot, at least a portion of the circumferential slot includes an axial component, and a wire having first and second ends, wherein the multi-stage transmission includes a first stage transmission (338, 346) and a second stage transmission, and wherein the mode selector ring is rotatable between a first position, in which the first and second stage transmissions are both enabled, and a second position, in which the second stage transmission is disabled; and wherein the first stage transmission (338, 346) is a first stage planetary transmission having a carrier, wherein the second stage transmission is a second stage planetary transmission having an outer ring gear, and wherein the outer ring gear is coupled for co-rotation with the carrier when the shift mechanism is in the second position; and wherein the shift mechanism includes a sleeve coupled for co-rotation with the mode selector ring, the sleeve including a circumferential slot, at least a portion of the circumferential slot includes an axial component, and a wire having first and second ends, a sleeve coupled for co-rotation with the mode selector ring, the sleeve including a circumferential slot, at least a portion of the circumferential slot includes an axial component, and a wire having first and second ends, wherein at least a portion of the wire between the first and second ends is received in a circumferential groove in the outer ring gear, and wherein the first end of the wire is disposed in the circumferential slot.