Preheat oven to 325°F. Prepare a bundt pan with butter and flour. Set aside.
In a medium bowl, combine the flour, cinnamon, baking soda, salt and nutmeg. Whisk to combine. Set aside.
In a large bowl, combine the oil, applesauce, sugars, eggs and vanilla. Whisk until well blended. Gradually add flour mixture to creamed mixture until blended. Fold in the apples and pecans.
Pour batter into prepared pan. Bake for 1-1/2 hours or until a toothpick inserted near the center comes out clean. Cool in pan 10 minutes before removing to a wire rack to cool completely.
In a small heavy saucepan over medium-low heat, cook and stir the brown sugar, cream, butter and salt until sugar is dissolved. Allow to cool to room temperature. Beat in confectioners' sugar until smooth; drizzle over cake. Sprinkle with pecans.