In
Thank Ed .. very interesting and a big up date from when 20 yrs ago when you only had a few satellites to reference with . My pal was on the A9 (??? ) in Scotland with a broken speedo ( knowing him , disconnected more likely as it was a hire vehicle ) So he was using satnav as a speed indicator , he tripped a speed camera and got done .Not quite accurate, they can accommodate undulations. They use trialteration to determine where you are on the earth, if you've got enough satellites in view then you can determine accurately where you are in space, the estimates come in (for example on height) because we have an arbritary reference point for altitude (sea level rather than the centre of mass of the earth for example).
All GPS chips update at least 1Hz (most are 10Hz or higher these days) so they can accommodate quite a lot of bends and undulations in the road. At 60mph you're covering <30yards/sec so at 10Hz update rate you have a resolution of 3 yards at 60mph which is plenty to accommodate most types of road.