Eric managed to pursue parking cost (5)
I believe the answer is:
price
'cost' is the definition.
(the cost or price of something)
'eric managed to pursue parking' is the wordplay.
'managed' is an anagram indicator.
'to pursue' is a charade indicator (letters next to each other).
'parking' becomes 'p' (abbreviation on road signs).
'eric' anagrammed gives 'rice'.
'rice' after 'p' is 'PRICE'.
(Other definitions for price that I've seen before include "Amount needed to purchase something" , "Cost of purchase" , "Fanny?" , "Betting odds" , "What has to be paid" .)