This speed limiting onmost cars is a great example of a topic I am so right on but I can't find a complete list to prove it.
2.5.10 Q: What does the rev limiter do? What does the speed limiter do?
A: The rev limiter interrupts fuel supply in order to bring the rpm below redline. Note that this works only while accelerating! The Neon's manual transmission is very strong, and can be forced into low gears at high speeds. The car's momentum will drive the engine past the redline, and the rev limiter will not help in this situation. Also, the fuel cutoff is relatively sudden, and can cause throttle-off oversteer if encountered while cornering near the limits of adhesion.As listed in the table for each engine, the SOHC rev limiter steps in at 6750 rpm, while the DOHC is set to 7250 rpm. Note that the DOHC is also rev limited at 6750 when coupled to the automatic transmission.
The speed limiter operates in a similar manner, based on indicated speed rather than rpm. This is done to prevent consumers from exceeding the speed rating of the OEM tires. All Neons (except ACRs and R/Ts) are governed at 118 mph, the maximum speed allowed on a T-rated tire. '95 m/y ACRs have no speed limiter; newer ACRs and all R/Ts are governed at 130 mph. This is a moot point because the ACR tops out due to aerodynamic drag at about 130 mph anyway.
Anyway an ACR is a special racing variant neon with higher rated tires and it is still limited to 118. Most cars and light trucks do not come with those tires. Which is why they get limited to lower speeds. This has been the practice of auto makers since the OBD computers were adopted.