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How to set reduced speed on Autopilot?

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Yup...in Autopilot settings you can reduce or increase by a percentage. But it applies to all roads and limits.

Or you just flip the cruise stalk down or up to adjust on the fly. Not sure what year car you have, so it may be slightly different than my 2017.
 
You can go in the settings and select it either to default to the speed limit or your current speed.

If you set it to use current speed, you can have it go up to speed limit if you half press down and hold on the right stalk or tap the speed limit sign on the screen.

If you set it to use speed limit, I don’t think there is a way to quickly have it go down to current speed. Just have to use the scroll wheel to reduce the set speed.
 
Just to notice this is Model S section, these car’s have dedicated speed adjustment stalk (and it’s on the left side). I do believe that OP was asking about speed adjustment on the newer model with the horizontal screen. For which I can’t unfortunately give any suggestions.