Parking system and method. In one example, an externally mounted parking system includes a parking system case that is externally mounted to a transmission case of a transmission and a parking system actuator that actuates a mechanism which selectively prevents movement of a gear in the transmission. In the parking system the mechanism is rotationally mounted in the parking system case and a gear reduction assembly in the system is coupled to the transmission through an opening in the transmission case and an opening in the parking system case.