A system and method for monitoring vehicular traffic with a laser rangefinding and speed measurement device utilizing a shaped divergent laser beam pattern. In accordance with the present invention, a traffic monitoring device is disclosed which comprises a light emitting diode having a die element producing an asymmetric beam pattern, an aperture for at least partially precluding some portion of the beam pattern in a first direction while allowing the beam pattern in a second orthogonal direction to pass therethrough and a lens associated with the aperture for causing the laser beam exiting the aperture to diverge providing a cone-like beam of laser energy.