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The Speedometer or the Tachometer? if your going 35 and punch it to 5,000 rpm, does the Speedometer drop to 0, or the tachometer thats reading 5000rpm go to 0?
your Speed is controlled by a Speed Sensor that is attached to the top of the bell housing. There is a spindle that matches up with the Flywheel, and there is an electronic pickup that detects how fast the Flywheel is spinning and Sends the signal to the Cluster. If the electronic pickup part of the Speed Sensor is not detecting how fast the Flywheel is spinning, it could drop to 0 for sure. I would make sure that the connection to the speed sensor are tight to begin with. Disconnect the harness, and clean out the connection. Put some Die-electric grease inside the connector and re-connect it. Test the car. If it still does this, then I would look into getting a used Speed sensor and Replacing it and seeing if that solves the problem.
Note: You can replace just the Electronic part on the whole assembly. The pickup, and the mechanical part come apart.
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