The invention relates to an intercooler for a motor vehicle with an internal combustion engine that is supercharged in steps. In this case, the intercooler has an air outlet opening as well as two air inlet openings, a heat exchanger module being associated with each air inlet opening. Air channels of the two heat exchanger modules are ultimately brought together in an air box of the intercooler, which is connected to the air outlet opening. It is thus made possible to bring together compressed charging air from two supercharging assemblies only in the area of the intercooler. To improve the pressure ratios during operation of only one supercharging assembly, a non-return valve is provided in an air channel. Thus, a module for separately bringing the airways together can be eliminated, thereby reducing the installation space requirement.