The Internet sure seems to think so.

YouTuber thespadeinator sets the scene:

The vid was taken yesterday (May 22, 2012) [sic] in Nobleton, Ontario, Canada. I was sitting on a friends lawn and heard a siren. I thought...what the hell is that siren coming from? Is there an emergency? And got up to see that ridiculous thing booking it (*sarcasm*) down the road. My friend says that it is a legit firetruck, but what could that thing honestly do to a fire? Make it laugh itself to death?

Alas, it seems this is not a Keystone Firefighters prop come to life, but rather a specialty vehicle used to transport members of the local fire department down the Nobleton Victoria Day Parade route.

They should seriously consider using this mini-truck in real fires, though. Might make for some very necessary comic relief.