The Land Transportation Office-National Capital Region (LTO-NCR) reported on Monday that its revenue collection in 2024 increased by 0.49 percent compared to the same period in 2023, reaching P8,546,127,062.29.

LTO-NCR’s Chief Accountant and Section Head Jett Sepulveda cited that the agency’s revenue collection for the previous year was P8,504,609,015.69, adding that the 0.49 percent increment is equivalent to around P41.5 million.

Based on their figures, the months of May, January, July and February recorded the highest revenues.

Sepulveda stated that for the month of May, LTO-NCR collected P829,395,627.07, followed by January with P828,782,952.98, July with P822,532,802.13, and February with P821,526,649.58.

Most of the revenues came from registration and licensing fees, amounting to P7,608,977,145.29 and P841,664,922.00, respectively.

Additionally, the Law Enforcement and Traffic Adjudication System contributed P80,367,935, while the Motor Vehicle Inspection Center (MVIC) added P15,117,060.

LTO-NCR director Roque Verzosa III stressed that despite the challenges posed by typhoons in 2024 and the subsequent work suspensions, as well as the MVIC discount on registration fees for electric and hybrid vehicles, the region was still at par with regard to its revenue collection efforts for 2024.