As a ex vehicle designer who worked for a manufacturer, I can confirm that the "old" type or traditional speedos were calibrated at road speed +%5. The reasoning and thoughts behind this were to minimise legal liability when the driver was prosecuted for speeding.
With the introduction of electronic and/or digital vehicle instrumentation some manufacturers continued with the +5% calibration "just to be on the safe side". (My VW speedo indicated high compared to my GPS).
However, my MG4 speedo reads "true road speed", and corresponds to within +/- 1 digit of my GPS and TomTom sat nav.