Final June auto sales figures won't be reported until next week, but many analyses released this morning predict that the automotive market may finally be showing signs of an economic rebound.

The Wall Street Journal reports, "J.D. Power & Associates said new-vehicle retail sales so far in June have risen ‘notably' from May, showing signs of ‘tempered but continued recovery in the market.'" Power's analysis predicts that retail sales will still be "down 9% from a year earlier but up 14% from May."

Edmunds.com comes to a similar conclusion, predicting in its monthly Market Forecast that "June vehicle sales will hit their highest level of 2009," with cars selling at a rate equal to 10.1 million transactions per year. Edmunds Chief Analyst Jesse Toprak says the rate is "still a long way from 16 million unit sales," a figure the industry reached just two years ago, "but things are moving in the right direction."

A Deutsch Bank analysis reaches a similar conclusion, according to the Los Angeles Times, which claims that "The June sales rate may rise to 10.2 million and average 11 million units in the second half of this year."

The expected effect of the recently-created federal "Cash for Clunkers" program is expected to spur additional sales in coming months.

But while the news is great for troubled automakers, it could be bad for consumers. Automakers have spent months slashing prices with heavy incentives - and in a rebounding market, those discounts could be less dramatic.

If you're in the market for a new car, check out the U.S. News rankings of this year's best cars as well as this month's best car deals.