No, this is wrong. Geometric algebras aren't division algebras in general: they usually have zero divisors. Objects that live in a single grade are invertible, but composite objects don't always have multiplicative inverses.

As a concrete example, consider the elements 1 + x and 1 - x. Their product is 1 + x - x - xx = 1 + x - x - 1 = 0. So certainly 1 + x doesn't have an inverse, either.