Fire authorities will need an estimated $1.5 billion from 2024-25 to 2033-34 to replace and upgrade their trucks, but have only been allocated about a quarter of that amount, a Victorian Auditor-General's Office audit report found on Wednesday.
Premier Ben Carroll told reporters the report "clearly showed" that there was more work to do".
"That's why I have committed to building a safety-first firefighting fleet," he said.
The report, tabled in parliament, exposed widespread maintenance flaws, aging fleets and major funding shortfalls facing the program.
It examined fleets operated by Fire Rescue Victoria, the Country Fire Authority and the Department of Energy, Environment and Climate Action.
It found Fire Rescue Victoria and the Country Fire Authority fleets were ageing, with 57 per cent of vehicles 15 years or older and more than a third 20 years or older, and that none of the three authorities was completing all scheduled maintenance.
It comes just a week after the state government announced a $167m investment to deliver 150 brand-new fire trucks by 2030.
The report also found "significant gaps" in its fleet planning approach, including overlooking quality assurance processes.
This led to equipment faults, including overweight, cracking trucks, and more than half its fleet being removed from service in 2025, it found.
Those trucks have since been returned under ongoing monitoring and repair programs.
"Together, these issues increase the risk that fire authorities will not have enough fit-for-purpose fire trucks to respond to fires and other emergencies," the report reads.
The report made six recommendations, including that all three authorities improve their asset management arrangements to meet national and global standards.
The authorities agreed to all recommendations in full or in principle.
The report comes as Victoria prepares for what is expected to be a high-risk bushfire season, driven by a confluence of climate conditions.
Opposition Leader Jess Wilson criticised the government's response to the report, saying CFA volunteers had been let down once again.
"It's no surprise to any Victorian and those who are volunteers that they have been unfunded by this government," she said.
"We have a CFA and firefighters who have been let down, and we have been committed to scrapping the tax on our volunteers."
The report found the state's firefighting fleet is made up of more than 3000 trucks, with the vast majority operated by the CFA.
Fire Rescue Victoria is made up of full-time professional firefighters, servicing metropolitan Melbourne and Victoria's major regional centres.
The Country Fire Authority is predominantly served by volunteer firefighters across the regions and rural areas, while the Department of Energy, Environment and Climate Action manages fire prevention and permits on public land including national parks.
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