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OK, keep in mind that I have never had this problem, have never worked on the speedometer, and only know about this information because I had run across it while looking up something else:
Link to Speedometer Failure discussion in FAQ
From that section:
Speedometer Failure. [Tip from Anders] Symptoms: Speedo dead, odometer functioning. Fault: Shorted 220 uF capacitor inside speedo. How to repair: 1. Remove instrument panel 2. Remove speedo, four screws on the back side and a flat cable connector 3. Carefully peel off the meter needle and remove the speedo background (glued) 4. unsolder capacitor and replace. 5. Assembly is reverse of disassembly
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