Here's the thing that really threw me off. I have a ScanGaugeII OBDII scanner that has a gauge mode that can, among other things, display the speed according to the car's computer.
I compared that, the speedo, and a gps unit and got this:
Speedo = 75 mph
Gps = 68 mph
OBDII = 69 mph
That confirms for me that the on board computer knows the correct speed and is intentionally under-reporting it on the speedo. At least, I know that the computer is reading the real road speed correctly.
I know manufacturers calibrate speedos conservatively, but I thought it was interesting to see the difference between the speedo and the OBDII readings.
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