It seem like you have a faulty speed sensor, damaged wiring , or an instrument malfunction.
The Vehicle Speed Sensor is mounted on transmission
For testing the speed sensor
# Turn the ignition switch to the OFF position.
# Disengage the wiring harness connector from the VSS.
# Using a Digital Volt-Ohmmeter (DVOM), measure the resistance (DVOM ohmmeter function) between the sensor terminals. If the resistance is 190-250 ohms, the sensor is okay.
Have your vehicle diagnosed to get out the code behind the engine light and get back if the speed sensor is not the problem.
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Saturday, March 13th, 2010 AT 7:34 PM