Kinked or binding speedo cables will result in the symptoms you described.

Sometimes lubing the cable will fix the problem, but most likely, the cable has already seen damage and the lubing will only be a temporary fix.

A replacement cable is the cure.

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2009 ML350 (106K) - Family vehicle
2001 CLK430 Cabriolet (80K) - Wife's car
2005 BMW 645CI (138K) - My daily driver
2016 Mustang (32K) - Daughter's car