Preheat oven to 350°F. Grease and flour an 8½ x 4½-inch loaf pan or spray with nonstick baking spray; set aside.
In a large bowl, whisk together oil and sugar until combined. Add the applesauce, eggs, and vanilla extract; whisk to combine.
Sprinkle salt, baking powder, baking soda, cinnamon, nutmeg, cloves, and ginger over mixture and stir until well blended. Add flour, stirring just until combined. Be careful not to over-mix or your cake will be tough. Fold in the walnuts.
Pour batter into prepared loaf pan. Bake until the cake is golden brown and a toothpick inserted in the center comes out clean, about 50-60 minutes. Do not overbake.
Remove from the oven, unmold from the pan, and cool completely on a wire rack before glazing.