More oxygen in cold air and it is more dense, thus slightly more boost (quicker) and better performance. When its 30F or less outside my car can rip some pavement, I love the performance in the cold!  Boost builds quicker...more oxygen = more complete burn in the cylinders = more power
I noticed it today, I was able to accelerate VERY briskly, had lots of torque feel, it is presently about 25F out.
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-diesel is not just a fuel, its a way of life- 
'15 GLK250 Bluetec 118k - mine - (OC-123,800)
'17 Metris(VITO!) - 37k - wifes (OC-41k)
'09 Sprinter 3500 Winnebago View - 62k (OC - 67k)
'13 ML350 Bluetec - 95k - dad's (OC-98k)
'01 SL500 - 103k(km) - dad's (OC-110,000km)
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