No. The speedometer is designed to read high, to comply with various laws in different jurisdictions. A usual spec is plus 5%, -0%. Assume your -5% refers to it reading fast. If it is reading low, have you changed tire sizes? The odometer is designed to read accurately. If you have standard size tires, then I would say that your odometer is fine.

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2007 X3 3.0si, 6 MT, Premium, White

Retired:
2008 535i, 6 MT, M Sport, Premium, Space Grey
2003 X5 3.0 Steptronic, Premium, Titanium Silver
2002 325xi 5 MT, Steel Grey
2004 Z4 3.0 Premium, Sport, SMG, Maldives Blue