General Motors chairman and chief executive Rick Wagoner has said that the automaker has several days' worth of parts stockpiled in case Delphi workers go on strike, though he believes a strike can be avoided.

"We strongly believe there are solutions that will work for all the parties," Wagoner said, according to The Associated Press (AP).

The news agency noted that Delphi, GM's former parts division and largest supplier, was in federal bankruptcy court on Tuesday, asking a judge for permission to cancel its labour contracts. The United Auto Workers and other unions have threatened to strike if those contracts are thrown out, though the court's decision is some months off.

According to AP, Wagoner also said making a profit in the first quarter was a good milestone for the struggling automaker, but GM still has a lot of restructuring to do.

"That's not the big deal for us," Wagoner told the news agency at GM's headquarters in Detroit. "The big deal for us is significant improvement in all the operating regions of the world."