The correct statement is:
The vehicles have the same speed, but different velocity.
Here's why:
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Speed is a scalar quantity, which means it only has magnitude. In this case, both the motorcycle and the car are traveling at 40 miles per hour, so their speeds are the same.
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Velocity is a vector quantity, which means it has both magnitude and direction. Since the motorcycle is traveling north and the car is traveling south, their velocities are different even though their speeds are the same.