If both are failing simultaneously, it points to a more serious underlying problem, likely involving:
* Faulty Power Distribution: A failing alternator, corroded battery cable, or blown fuse could deprive both systems of sufficient power. This is a common culprit for multiple electrical failures.
* Damaged Wiring Harness: A damaged or shorted wire in the main harness could affect both the speedometer's circuit and the OBD system. This could be due to physical damage, rodent chewing, or corrosion.
* Power Control Module (PCM) Issues: The PCM (also called an ECM) is the "brain" of the car and controls many systems, including the speedometer and the OBD system. A failing PCM could disrupt signals to both.
* Serious Engine Problem Affecting Multiple Systems: While less likely, a catastrophic engine failure could affect the car's electrical system in ways that cause both the check engine light and speedometer to fail.
In short: You should not assume a direct causal link. The simultaneous failure needs a proper diagnostic check by a mechanic to identify the root cause. Ignoring this could lead to more extensive and expensive repairs down the line.