Senators Warren, Banks Investigate Rising Fire Truck Costs Nationwide

U.S. Senators Elizabeth Warren and Jim Banks have launched a bipartisan investigation into the impact of private equity consolidation on the soaring prices and lengthy wait times for fire trucks, citing concerns that profit-driven strategies are undermining public safety. Fire departments nationwide report that fire truck prices have doubled over the past decade, with pumper trucks now costing nearly $1 million and ladder trucks approaching $2 million, and delivery times stretching up to four years. The investigation focuses on American Industrial Partners, which consolidated several fire truck manufacturers into REV Group, now controlling about a third of the market. Lawmakers and fire officials argue that this consolidation has led to market power abuses, including price hikes, delivery delays, and defective parts. REV Group cites pandemic-related supply chain disruptions and a $4 billion backlog of orders, but critics contend that financial incentives for profit are restricting supply and forcing higher costs onto taxpayers. The probe seeks to determine the extent to which private equity's role in the industry is affecting the ability of fire departments to protect communities and respond effectively to emergencies.