A transition rate model of cargo transport by N molecular motors is proposed. Under the assumption of steady state, the force-velocity curve of multimotor system can be derived from the force-velocity curve of a single motor. Our work shows, in the case of low load, that the velocity of multimotor system can decrease or increase with increasing motor number, which is dependent on the single motor force-velocity curve; and most commonly, the velocity decreases. This gives a possible explanation to some recent experimental observations.