Stig is right (as usual) about the warranty aspect. I will not trynto get you to do anything that would void your warranty BUT! But those wires down the right side should have noyhing to do with the speedo. No, I don't think the sensor is bad on a new bike. What I suspect now is the connector for the sensor is probably loose or has a bad contact. Our People GTi300 is under winter wraps so it will take me a while to "unwrap" it! Meanwhile, please see what your dealer says about warranty which IS transferable.