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Trever, Yes it can. There are several sites with formulars about correcting the gearing. What has happened, the tire size most likely has been changed, leading to changing the rear gear ratio for the speedo gear.
The easiest thing to do is to look in your yellow pages, or talk to a local cop with a few years experence, and look for a shop that calabrates speedos. They can put a new gear on your speedo cable and get you correct again. The gear itself is rather simple to change.
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John
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In the cool still quiet of night, you can hear chevies rusting away.
Pull the speedometer cable out of your transmission. Count the teeth on the gear on the end of the cable. As a rule of thumb, one tooth will change about 2 to 3 mph. To make the speedometer read slower, you have to add teeth to the cable gear. Go to your Ford dealer, to get a new gear with 1 or 2 teeth more. (2 should put you real close)
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