Clearly it means compressor... In a car context, this could presumably be what we'd call a turbocharger, or a supercharger, or perhaps both.
Turbochargers compress extra air into the engine and are driven by the exhaust gases running through a fan thing. They work mainly when the throttle is open with the engine revs high -- in other words, when you need more power (you can often hear the turbine whistle when you put your foot down).
Superchargers do the same thing, but are driven by gears from the engine itself. They work all the time, so are a power drag when power demand is low.
Both allow more fuel and air to fit into the cylinder, and therefore they give more power.
Superchargers are less common in cars than turbos, presumably because of the energy drag at low power. I think they are used more in aero engines, which run flat out all the time.
I don't know which Mercedes use. The ones which stop the indicators working...?