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Try this.
Turn the key on, do not start the vehicle. Absence the needle on the speedo. It should move down and then back up. Before it moves back up turn off the key. Repeat this until the needle is at zero.
Then start the vehicle. If the needle goes back to a spot other than zero, you may have to take it for a quick drive, than the speedo head is likely bad.
This is a pretty common an known issue for gm's.
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passenger side of vehicle, the tail shaft of the transmission has a VSS (Vehicle Speed Sensor) that is most likely the culprit, it has a 2 pin plug and a 10MM bolt holding it in.
check your speedometer cable it runs from your transmission to your speedometer it is what determines your speed if that cable is loose from your tanny then push it back in i hope this helps
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