Yes its common. On a side note, the odometer should be right

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Yup, the speedometers on most motorcycles are incorrect. Aftermarket companies sell little do-dads that plug into the harness to correct this, if it bothers you enough to want to correct it. I have never bothered.

 

If you really wanted to remedy this it's called a speedo healer not sure where to get them tho...

 

It is normal. Nothing wrong with your bike. Either learn to live with it, or pull the speedo apart and attempt to 'fix' the error by repositioning the needle a click higher on the speedo. Unfortunately, this will cause all your speeds below 50mph to read fast so you really don't fix anything.

 

Mines out about 10% at all speeds as is the odometer according to my Garmin. Speedo healers can be purchased from sportbikeaccessories.com. I'm sure other places sell them as well.