The counterweight makes it easier for the motor to raise and lower the car just as sitting on a see-saw makes it much easier to lift someone's weight compared to lifting them in your arms. Thanks to the counterweight, the motor needs to use much less force to move the car either up or down. Assuming the car and its contents weigh more than the counterweight, all the motor has to lift is the difference in weight between the two and supply a bit of extra force to overcome friction.
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