Check the failsafe settings on the radio. This is a preprogrammed position for the throttle and steering to go to when the receiver loses signal, I'd guess yours is set to full reverse. When you turn the radio back on the signal is restored and the speedo goes back to neutral.
You'll need to look in the manual, it's probably defaulted to full reverse as this is brake on nitros and fwd/brake speedos.
I hope this makes sense!
Ian
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