SQL Data in form of Date+Time bulk insert into one column
You can process the data using regular T-SQL as part of the bulk loading process, using the OPENROWSET(BULK... function and the XML format file. 

INSERT &lt;target&gt; WITH (TABLOCKX)
    &lt;target_column_list&gt;
SELECT
    &lt;columns_and_expressions&gt;
FROM OPENROWSET
(
    BULK &lt;data_file&gt;,
    FORMATFILE = &lt;xml_format_file&gt;,
    ... &lt;other_options&gt;
) AS alias;


The key part is the &lt;columns_and_expressions&gt; in the select clause. This provides a lot of flexibility.

A more concrete example:

INSERT dbo.zz_u_test_TEMP WITH (TABLOCKX)
(
    col1_dirty, col2_dirty, col3_dirty, col4_dirty, col5_dirty,
    col6_dirty, col7_dirty, col8_dirty, col9_dirty, col10_dirty
)
SELECT
    REPLACE(RowSource.col1_dirty, CHAR(34), SPACE(0)),
    REPLACE(RowSource.col2_dirty, CHAR(34), SPACE(0)),
    REPLACE(RowSource.col3_dirty, CHAR(34), SPACE(0)),
    REPLACE(RowSource.col4_dirty, CHAR(34), SPACE(0)),
    REPLACE(RowSource.col5_dirty, CHAR(34), SPACE(0)),
    REPLACE(RowSource.col6_dirty, CHAR(34), SPACE(0)),
    RowSource.col7_dirty,
    RowSource.col8_dirty,
    RowSource.col9_dirty,
    RowSource.col10_dirty
FROM OPENROWSET
(
    BULK 'C:\Documents and Settings\Paul\Test.data', 
    FORMATFILE = 'C:\Documents and Settings\Paul\format.xml',
    CODEPAGE = 'RAW',
    FIRSTROW = 0,
    LASTROW = 0,
    MAXERRORS = 0,
    ROWS_PER_BATCH = 0
) AS RowSource;


This gives you the potential benefits of minimally-logged fast bulk load, while applying transformations in the SELECT clause.

That is a code example I wrote years ago for a different problem, but it should work for you. If I get a moment to create a table and file (not supplied in the question), I might add a more specific version.