Coaxial speakers are basically a design that has been prevalent from the 50's to address the short comings of full range drivers, but still maintaining the directivity.
But it never became mainstream as overcoming the short comings was an expensive approach.
However the cheaper car coaxs (2-way, 3-way or more) are just drivers mounted around a main woofer without proper calibration. They will sound loud, but lack in clarity and will easily distort at higher volumes, .
The well engineered 2-way coaxials like the KEFs or some of the vintage drivers have their own limitations like edge diffraction, sibilance, overlaps and other issues, and will mostly need either equing or zobel networks.
KEF is one company which has retained focus in this direction.
But most coaxials do certain things well like imaging, because these act like point source drivers.
In car it is a popular design as you don't have to use multiple speakers, but a big compromise in sound quality, but fine for a casual listener.
@Naveenbnc If you want to try the cheap coax car drivers at home as they are cheap, you are going to be disappointed big time if you are after sound quality and not quantity.
Most of these drivers are high spl with very weak voice coil, so don't run them off any high power amplifier. They are designed to be powered by low profile car head units.
Car inherently has lots of cabin gain unlike in a room, so the lows tend to be exaggerated and liked by many.
As I used to do a lot of DIY in my younger days, from my experience, I suggest you don't keep jumping before perfecting the one you have already built in hand to suit your listening taste.
As the sound improves while you make the modifications, you will get a first hand experience of what effect each mod has...
for example, you will get to learn, how a simple change in quantity of enclosure damping changes which frequencies of the sound
I guess you have built 2 to 3 speakers. Work around these first.
My approach is usually to set a budget, and try and work within it. Also since my approach is only multi-way, it makes it easier to work within its constrains. I am though currently using a 2-way passive at home and a 4-way active in car.