During the early 1970s, the demand from consumers for small cars were rising, Ford's competitors were launching cars such as the Fiat 127 and the Renault 5. The effects of the 1973 energy crisis were also affecting demand. Ford needed a small car to compete in this emerging market. After research and many mock-ups a prototype and project known as "Bobcat" was created, which would be the basis of Ford's new car, the "Fiesta". After years of speculation the new car was unveiled in late 1975.