Preheat oven to 350ð F. Grease and flour two 8" x 4" loaf pans. Set aside.
Using the large holes on a box grater, shred the apples (discard the cores). You should have 4 cups of grated apple.
In a large bowl, fold together shredded apples and sugar, and let sit for 15 minutes until sugar dissolves. There will be a lot of liquid.
Add oil, eggs, vanilla extract, pecans, and raisins, and stir to incorporate.
In a medium bowl, whisk together flour, baking powder, baking soda, salt, cinnamon, and nutmeg. Stir dry ingredients into the apple mixture, just until mixed. Pour into prepared loaf pans.
Bake 55 minutes, or until golden and center tests done with a toothpick. Remove pans from oven to cooling rack and let cool for 10 minutes. Then turn breads out of pan onto rack to cool completely before slicing.