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Bingo that's what it's set to.I have read the speed rating of the factory tires is considered when they program the top speed.
My avatar is of my '01 at the limit. Yours is also restricted to 170 KPH (105.6 MPH) due to S speed rating (180 KPH or 112 MPH) of the OE tires (although for some reason, GM stopped the cars at the R-rating) - although it gets there considerably quicker than my '00 or '01. I once had a '94 Pontiac Sunbird LE V-6 which had T-rated OE tires and was 'shut down' at 112 MPH. All of my vehicles are except the Equinox, which has T-rated tire and is restricted to 190 KPH (and yes, they've all been there).My 1989 camaro...came equipt with 15 " rubber as an option...was goverened to 180 km/h..... which it could almost do in 4th gear before I had to shift ...with the 3.08 rearend. If you had the 16 tires....245/50/16 they ramped it up to 245 km/h...
I think my malibu hit the governor at 180. ...it was very close to that anyways.... 2006 3.5 v6...16" tires....not sure of speed rating.