It's usually because you have a bad VSS, Vehicle Speed Sesnor. It sends a signal from the trans to the speedo and engine computer. Usually speedo stops working too.
Vehicle Speed Sensor (VSS)
The vehicle speed sensor (VSS) (9E731) is a magnetic pickup that sends a signal to the powertrain control module (PCM) (12A650) . This VSS signal transmits vehicle speed to the powertrain control module .
Vehicle Speed Sensor (VSS)
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